TY  - BOOK
AU  - Huo, Zhen
AU  -  Pedroni, Marcelo
AU  -  Pei, Guangyu
TI  - Bias and Sensitivity under Ambiguity
SN  - 0002-8282
PB  - American Economic Review
KW  -  Business Fluctuations
KW  -  Decision-Making under Risk and Uncertainty
KW  -  Forecasting and Simulation
KW  - Price Level
N2  - This paper characterizes the effects of ambiguity aversion under dispersed information. The equilibrium outcome is observationally equivalent to a Bayesian forecast of the fundamental with increased sensitivity to signals and a pessimistic bias. This equi
UR  - https://www.aeaweb.org/articles?id=10.1257/aer.20231012
ER  -