Directed attention and nonparametric learning
This paper examines the implications of learning for the effects of ambiguity aversion. The key result is that since agents naturally choose to learn about the sources of uncertainty that reduce utility the most, information acquisition attenuates the most severe effects of ambiguity aversion. The s...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Academic Press Inc.
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |