Given the pace of development of the digital economy, companies' operations with crypto
assets are an objective inevitability for most states. At the same time, national jurisdictions …

This paper axiomatizes an intertemporal version of the Smooth Ambiguity decision model
developed in [P. Klibanoff, M. Marinacci, S. Mukerji, A smooth model of decision making …

We study decision problems in which consequences of the various alternative actions
depend on states determined by a generative mechanism representing some natural or …

We derive the analogue of the classic Arrow–Pratt approximation of the certainty equivalent
under model uncertainty as described by the smooth model of decision making under …

Many economic decisions can be described as an option exercise or optimal stopping
problem under uncertainty. Motivated by experimental evidence such as the Ellsberg …

Ordering alternatives by their degree of ambiguity is crucial in economic and financial
decision-making processes. To quantify the degree of ambiguity, this paper introduces an …

This paper introduces a model of decision making under ambiguity by extending the
Bayesian approach to uncertain probabilities. In this model, preferences for ambiguity …

We study optimal insurance demand for a risk-and ambiguity-averse consumer under
ambiguity about contract nonperformance. Ambiguity aversion lowers optimal insurance …

We consider an ambiguity averse, sophisticated decision maker facing a recurrent decision
problem where information is generated endogenously. In this context, we study self …

We report the results of two experiments designed to better understand the mechanisms
driving decision-making under ambiguity. We elicit individual preferences over different …