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Ambiguity Aversion Phenomenon and Rational Choice Theory
https://doi.org/10.32609/0042-8736-2011-10-16-34
Abstract
The paper analyzes ambiguity aversion that is one of the main anomalies characteristic for the individual behaviour of economic agents making choice in the face of uncertainty. It shows that this phenomenon plays a major role in the contemporary rational choice theory and hence is widely discussed both by economic theorists and experimental economists. The article further elaborates on the nature of this phenomenon and considers its main causes.
About the Author
I. Pavlov
Lomonosov Moscow State University; Institute of Economics, Russian Academy of Sciences
Russian Federation
Russian Federation
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Review
For citations:
Pavlov I. Ambiguity Aversion Phenomenon and Rational Choice Theory. Voprosy Ekonomiki. 2011;(10):16-34. (In Russ.) https://doi.org/10.32609/0042-8736-2011-10-16-34
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