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International Journal of Theoretical Physics, ISSN 0020-7748, 10/2014, Volume 53, Issue 10, pp. 3666 - 3682
..., including biological, cognitive and social processes. In this paper, we elaborate a quantum mechanical model which faithfully describes the Ellsberg paradox in economics... 
Ellsberg paradox | Theoretical, Mathematical and Computational Physics | Quantum Physics | Complex Hilbert spaces | Physics, general | Physics | Quantum structures | Elementary Particles, Quantum Field Theory | Ambiguity | EXPLANATION | EXPECTED UTILITY | PHYSICS, MULTIDISCIPLINARY | RISK | Analysis | Quantum theory
Journal Article
Economics and philosophy, ISSN 0266-2671, 07/2016, Volume 32, Issue 2, pp. 231 - 248
.... The hypothesis that agents are averse to uncertainy about chances explains a pattern of preferences often observed in the Ellsberg paradox... 
Symposium on Rational Choice and Philosophy | Ambiguity aversion | Uncertainty | Ellsberg Paradox | Chances | Ambiguity | DEFINITION | EXPECTED UTILITY | SUBJECTIVE-PROBABILITY | SMOOTH AMBIGUITY MODEL | RISK | ECONOMICS | ETHICS | Studies | Economic theory | Sociology
Journal Article
Journal of Risk and Uncertainty, ISSN 0895-5646, 2/2016, Volume 52, Issue 1, pp. 47 - 64
We present a simple model where preferences with complexity aversion, rather than ambiguity aversion, resolve the Ellsberg paradox... 
Risk aversion | Complex compounds | Bags | Population estimates | Experiment design | Risk aversion preference | Population distributions | Expected utility | Paradoxes | Ambiguity | Risk | Ellsberg paradox | Uncertainty | Compound risk | Complexity | Models | Studies
Journal Article
Journal of Mathematical Psychology, ISSN 0022-2496, 06/2017, Volume 78, pp. 40 - 50
We set up a simple quantum decision model of the Ellsberg paradox. We find that the matching probabilities that our model predict are in good agreement with those empirically measured by Dimmock et al. (2015... 
Ellsberg paradox | Probability weighting | Matching probabilities | Projective prospect theory | Quantum probability | Projective expected utility | AMBIGUITY AVERSION | RISK | EXPECTED UTILITY | MATHEMATICS, INTERDISCIPLINARY APPLICATIONS | UNCERTAINTY | SOCIAL SCIENCES, MATHEMATICAL METHODS | PSYCHOLOGY, MATHEMATICAL | PROSPECT-THEORY
Journal Article
European Journal of Operational Research, ISSN 0377-2217, 08/2019, Volume 276, Issue 3, pp. 1034 - 1043
•A new decision theory which models and axiomatizes the procedural rationality.•It accounts for St. Petersburg, Allais, and Ellsberg paradoxes, and other anomalies... 
Decision support systems | Behavioral model | The St. Petersburg paradox | The Allais paradox | The Ellsberg paradox | ATTENTION | INFORMATION | RISK | EXPECTED UTILITY | OPERATIONS RESEARCH & MANAGEMENT SCIENCE | DECISION-MAKING | BEHAVIORAL OPERATIONAL-RESEARCH | FRAMEWORK | SALIENCE | FOUNDATIONS | PROSPECT-THEORY | Mathematical economics | Usage | Management | Decision theory
Journal Article
Judgment and Decision Making, ISSN 1930-2975, 07/2012, Volume 7, Issue 4, pp. 383 - 389
.... The Ellsberg paradox is the best-known example of this phenomenon. Ambiguity has generally been studied in the domain of risky choice, and many theories of ambiguity aversion deal with ambiguity only in this... 
Risk | Ellsberg paradox | Choice | Decision making | Delay | Ambiguity | PREFERENCE REVERSALS | BEHAVIOR | AXIOMS | INTERTEMPORAL CHOICE | PSYCHOLOGY, MULTIDISCIPLINARY | ambiguity | delay | DECISION-MAKING | decision making | UNCERTAINTY | risk | choice | Studies | Decision theory | choice.NAKeywords
Journal Article
Management Science, ISSN 0025-1909, 4/2019, Volume 65, Issue 4, pp. 1667 - 1677
Journal Article
Journal of Risk and Uncertainty, ISSN 0895-5646, 3/2001, Volume 22, Issue 2, pp. 129 - 139
Journal Article
Journal of Engineering Science and Technology Review, ISSN 1791-9320, 2011, Volume 4, Issue 3, pp. 246 - 250
Journal Article
Economic Theory Bulletin, ISSN 2196-1085, 11/2013, Volume 1, Issue 2, pp. 139 - 144
... of the Ellsberg’s paradox in terms of incompleteness of preferences. We adopt the standard model of information in terms of a $$\sigma $$ σ -algebra $$\Sigma $$ Σ of events... 
Asymmetric information | Ambiguity aversion | C44 | Economics general | Ellsberg’s Paradox | Economic Theory | Game Theory, Economics, Social and Behav. Sciences | D81 | Economics / Management Science | Studies | Economic theory
Journal Article
Journal of Economic Psychology, ISSN 0167-4870, 10/2007, Volume 28, Issue 5, pp. 545 - 565
A number of scholars have noted that Ellsberg’s seminal 1961QJE critique of the subjective expected utility model bears certain resemblances to ideas expressed... 
Decision-making | Uncertainty | Ellsberg paradox | Keynes | Ambiguity | CHOICE | PSYCHOLOGY, MULTIDISCIPLINARY | ambiguity | decision-making | COMPARATIVE IGNORANCE | RISK | ECONOMICS | uncertainty
Journal Article
Management Science, ISSN 0025-1909, 8/2016, Volume 62, Issue 8, pp. 2179 - 2197
The classical Ellsberg experiment presents individuals with a choice problem in which the probability of winning a prize is unknown (uncertain). In this paper,... 
multidimensional uncertainty | uncertainty aversion | Ellsberg paradox | Multidimensional uncertainty | Uncertainty aversion | MECHANICAL TURK | EXPECTED UTILITY | AMBIGUITY AVERSION | PARADOX | OPERATIONS RESEARCH & MANAGEMENT SCIENCE | MANAGEMENT | RISK | Decision-making | Logistic regression | Usage | Multivariate analysis | Methods
Journal Article
Journal Article
Journal of Mathematical Psychology, ISSN 0022-2496, 06/2017, Volume 78, pp. 2 - 12
.... We show that our quantum approach can clearly explain the famous examples of anomalies for the expected utility theory, the Ellsberg paradox, the Machina paradox and the disparity between WTA and WTP... 
Prospect theory | Ellsberg paradox | Machina paradox | Quantum-like approach | WTA and WTP | INEQUALITY | REPRESENTATION | EXPECTED UTILITY | PROBABILITY | MATHEMATICS, INTERDISCIPLINARY APPLICATIONS | DECISION-MAKING | DYNAMICS | SOCIAL SCIENCES, MATHEMATICAL METHODS | PSYCHOLOGY, MATHEMATICAL | AMBIGUITY | INTERFERENCE | AVERSION | PROSPECT-THEORY | Analysis | Models | Quantum theory
Journal Article
Soft Computing, ISSN 1432-7643, 2019, Volume 24, Issue 14, pp. 10219 - 10229
Journal Article
Journal of Economic Theory, ISSN 0022-0531, 09/2015, Volume 159, pp. 465 - 488
.... Subjective sources relate Ellsberg-paradox behavior to source preference and to Allais-paradox behavior. 
Allais paradox | Source preference | Ambiguity | CHOICE | PROBABILITY | RISK | AVERSION | ECONOMICS | ATTITUDES
Journal Article