This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Ambiguity Aversion and Incompleteness of Contractual Form Author info | Abstract | Publisher info | Download info | Related research | Statistics Mukerji, Sujoy
Additional information is available for the following
registered author(s):
Subjective uncertainty is characterized by ambiguity if the decisionmaker has an imprecise knowledge of the probabilities of payoff-relevant events. In such an instance, subjective beliefs are better represented by a set of probability functions than by a unique probability function. An ambiguity-averse decisionmaker adjusts his choice on the side of caution in response to his imprecise knowledge of the odds. This paper shows that ambiguity aversion can explain the existence of incomplete contracts. The contextual setting is the investment hold-up model which has been the focus of much of the research on incomplete contracts. Copyright 1998 by American Economic Association.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by American Economic Association in its journal American Economic Review .
Volume (Year): 88 (1998)
Issue (Month): 5 (December)
Pages: 1207-31
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:aea:aecrev:v:88:y:1998:i:5:p:1207-31Contact details of provider: Email: Web page: http://www.aeaweb.org/aer/ More information through EDIRC
Order Information: Web: http://www.aeaweb.org/subscribe.html
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Keywords: Other versions of this item:
Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)Marciano Siniscalchi, 2003.
"A Behavioral Characterization of Plausible Priors ,"
Levine's Bibliography
234936000000000064, UCLA Department of Economics.
[Downloadable!]
Other versions:
Marciano Siniscalchi, 2003.
"A Behavioral Characterization of Plausible Priors ,"
Discussion Papers
1365, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!] Siniscalchi, Marciano, 2006.
"A behavioral characterization of plausible priors ,"
Journal of Economic Theory ,
Elsevier, vol. 128(1), pages 91-135, May.
[Downloadable!] (restricted) Fujikawa, Takemi, 2009.
"The hot stove effect in repeated-play decision making under ambiguity ,"
MPRA Paper
17647, University Library of Munich, Germany.
[Downloadable!]
Nicolai J. Foss, .
"The Rhetorical Dimensions of Bounded Rationality: Herbert A. Simon and Organizational Economics ,"
IVS/CBS Working Papers
2002-07, Department of Industrial Economics and Strategy, Copenhagen Business School.
[Downloadable!]
Andreas Pape & Subir Bose & Emre Ozdenoren, 2004.
"Optimal auctions with ambiguity ,"
Econometric Society 2004 North American Summer Meetings
609, Econometric Society.
[Downloadable!]
Other versions: Ghirardato, Paolo & Katz, Jonathan N., 2000.
"Indecision Theory: Explaining Selective Abstention in Multiple Elections ,"
Working Papers
1106, California Institute of Technology, Division of the Humanities and Social Sciences.
[Downloadable!]
Stanislaw Heilpern, 2002.
"Using Choquet integral in economics ,"
Statistical Papers ,
Springer, vol. 43(1), pages 53-73, January.
[Downloadable!] (restricted)
Jean-Marc Tallon & Sujoy Mukerji, 2004.
"Ambiguity aversion and the absence of wage indexation ,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-00174562_v1, HAL.
[Downloadable!]
Other versions:
Sujoy Mukerji & Jean-Marc Tallon, 2002.
"Ambiguity Aversion and the Absence of Wage Indexation ,"
Economics Series Working Papers
111, University of Oxford, Department of Economics.
[Downloadable!] Mukerji, Sujoy & Tallon, Jean-Marc, 2004.
"Ambiguity aversion and the absence of wage indexation ,"
Journal of Monetary Economics ,
Elsevier, vol. 51(3), pages 653-670, April.
[Downloadable!] (restricted) Larry G. Epstein & Massimo Marinacci & Seo Kyoungwon, 2006.
"Coarse Contingencies ,"
Carlo Alberto Notebooks
4, Collegio Carlo Alberto, revised 2007.
[Downloadable!]
Other versions: Marie-Louise Vierø, 2006.
"Contracting in Vague Environments ,"
Working Papers
1106, Queen's University, Department of Economics.
[Downloadable!]
Nicolai J. Foss & Peter G. Klein, 2005.
"The Theory of the Firm and Its Critics A Stocktaking and Assessment ,"
DRUID Working Papers
05-03, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
[Downloadable!]
Itzhak Gilboa & Andrew Postlewaite & David Schmeidler, 2004.
"Rationality of Belief Or: Why Savage's axioms are neither necessary nor sufficient for rationality, Second Version ,"
PIER Working Paper Archive
08-043, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 03 Dec 2008.
[Downloadable!]
Other versions: Claude Henry & Marc Henry, 2002.
"Formalization and applications of the precautionary principles ,"
Discussion Papers
0102-22, Columbia University, Department of Economics.
[Downloadable!]
Other versions: Nicolai J. Foss & Torben Pedersen, .
"Transferring Knowledge in MNCs: The Role of Sources of Subsidiary Knowledge and Organizational Context ,"
IVS/CBS Working Papers
00-12, Department of Industrial Economics and Strategy, Copenhagen Business School.
[Downloadable!]
Other versions: Sujoy Mukerji & Jean-Marc Tallon, 2001.
"Ambiguity Aversion and Incompleteness of Financial Markets ,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-00174539_v1, HAL.
[Downloadable!]
Other versions:
Mukerji, S. & Tallon, J.-M., 1999.
"Ambiguity Aversion and Incompleteness of Financial Markets ,"
Papiers d'Economie Mathématique et Applications
1999-28, Université Panthéon-Sorbonne (Paris 1).
Sujoy Mukerji & Jean-Marc Tallon, 2000.
"Ambiguity Aversion and Incompleteness of Financial Markets ,"
Economics Series Working Papers
046, University of Oxford, Department of Economics.
[Downloadable!] Mukerji, Sujoy & Tallon, Jean-Marc, 2001.
"Ambiguity Aversion and Incompleteness of Financial Markets ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 68(4), pages 883-904, October.
Nicolai J. Foss, .
"Strategy, Bargaining, and Economic Organization: Some Thoughts on the Transaction Cost Foundations of Firm Strategy ,"
IVS/CBS Working Papers
00-11, Department of Industrial Economics and Strategy, Copenhagen Business School.
[Downloadable!]
Sujoy Mukerji & Jean-Marc Tallon, 2002.
"Ellsberg`s 2-Color Experiment, Bid-Ask Behavior and Ambiguity ,"
Economics Series Working Papers
114, University of Oxford, Department of Economics.
[Downloadable!]
Constanza M. Fosco Perea M, .
"Ambigüedad estratégica en contratos públicos de suministro ,"
ILADES-Georgetown University Working Papers
inv127, Ilades-Georgetown University, School of Economics and Bussines.
[Downloadable!]
Sujoy Mukerji, 2003.
"Ambiguity Aversion and Cost-Plus Procurement Contracts ,"
Economics Series Working Papers
171, University of Oxford, Department of Economics.
[Downloadable!]
Other versions:
Access and
download statistics Did you know? LogEc provides statistical analysis about downloads from this service (and others).
This page was last updated on 2009-11-16.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .