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Bias and Sensitivity under Ambiguity

By: Contributor(s): Material type: TextTextPublication details: American Economic Review; 2024Description: 4091-4133ISSN:
  • 0002-8282
Subject(s): Online resources: Summary: 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
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Article Index Article Index Dr VKRV Rao Library Vol. 114, No. 12 Not for loan AI1252

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

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