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Ambiguity aversion in multi-armed bandit problems

  • Christopher Anderson


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    Article provided by Springer in its journal Theory and Decision.

    Volume (Year): 72 (2012)
    Issue (Month): 1 (January)
    Pages: 15-33

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    Handle: RePEc:kap:theord:v:72:y:2012:i:1:p:15-33
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    1. Gilboa, Itzhak & Schmeidler, David, 1989. "Maxmin expected utility with non-unique prior," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 141-153, April.
    2. Klibanoff, Peter & Marinacci, Massimo & Mukerji, Sujoy, 2009. "Recursive smooth ambiguity preferences," Journal of Economic Theory, Elsevier, vol. 144(3), pages 930-976, May.
    3. Noah Gans & George Knox & Rachel Croson, 2007. "Simple Models of Discrete Choice and Their Performance in Bandit Experiments," Manufacturing & Service Operations Management, INFORMS, vol. 9(4), pages 383-408, December.
    4. Schotter, Andrew & Braunstein, Yale M, 1981. "Economic Search: An Experimental Study," Economic Inquiry, Western Economic Association International, vol. 19(1), pages 1-25, January.
    5. Uzi Segal, 1985. "The Ellsberg Paradox and Risk Aversion: An Anticipated Utility Approach," UCLA Economics Working Papers 362, UCLA Department of Economics.
    6. Cox, James C & Oaxaca, Ronald L, 1992. "Direct Tests of the Reservation Wage Property," Economic Journal, Royal Economic Society, vol. 102(415), pages 1423-32, November.
    7. Traeger, Christian P., 2011. "Subjective Risk, Confidence, and Ambiguity," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt0gw7t7vn, Department of Agricultural & Resource Economics, UC Berkeley.
    8. Robin M. Hogarth & Hillel J. Einhorn, 1990. "Venture Theory: A Model of Decision Weights," Management Science, INFORMS, vol. 36(7), pages 780-803, July.
    9. John W. Pratt & David A. Wise & Richard Zeckhauser, 1979. "Price Differences in almost Competitive Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 93(2), pages 189-211.
    10. Kahn, Barbara E & Sarin, Rakesh K, 1988. " Modeling Ambiguity in Decisions under Uncertainty," Journal of Consumer Research, Oxford University Press, vol. 15(2), pages 265-72, September.
    11. Hey, John D., 1987. "Still searching," Journal of Economic Behavior & Organization, Elsevier, vol. 8(1), pages 137-144, March.
    12. Camerer, Colin & Weber, Martin, 1992. " Recent Developments in Modeling Preferences: Uncertainty and Ambiguity," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 325-70, October.
    13. Halevy, Yoram, 2005. "Ellsberg Revisited: an Experimental Study," working papers halevy-05-07-26-11-51-13, Vancouver School of Economics, revised 25 Feb 2014.
    14. Schmeidler, David, 1989. "Subjective Probability and Expected Utility without Additivity," Econometrica, Econometric Society, vol. 57(3), pages 571-87, May.
    15. Braunstein, Yale M & Schotter, Andrew, 1982. "Labor Market Search: An Experimental Study," Economic Inquiry, Western Economic Association International, vol. 20(1), pages 133-44, January.
    16. Jeffrey Banks & David Porter & Mark Olson, 1997. "An experimental analysis of the bandit problem," Economic Theory, Springer, vol. 10(1), pages 55-77.
    17. repec:cdl:agrebk:1326487 is not listed on IDEAS
    18. Robert J. Meyer & Yong Shi, 1995. "Sequential Choice Under Ambiguity: Intuitive Solutions to the Armed-Bandit Problem," Management Science, INFORMS, vol. 41(5), pages 817-834, May.
    19. James Cox & Ronald Oaxaca, 2000. "Good News and Bad News: Search from Unknown Wage Offer Distributions," Experimental Economics, Springer, vol. 2(3), pages 197-225, March.
    20. Cox, James C & Oaxaca, Ronald L, 1989. " Laboratory Experiments with a Finite-Horizon Job-Search Model," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 301-29, September.
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