Ambiguous Correlation

S-Tier
Journal: Review of Economic Studies
Year: 2019
Volume: 86
Issue: 2
Pages: 668-693

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Many decisions are made in environments where outcomes are determined by the realization of multiple random events. A decision maker may be uncertain how these events are related. We identify and experimentally substantiate behaviour that intuitively reflects a lack of confidence in their joint distribution. Our findings suggest a dimension of ambiguity which is different from that in the classical distinction between risk and “Knightian uncertainty”.

Technical Details

RePEc Handle
repec:oup:restud:v:86:y:2019:i:2:p:668-693.
Journal Field
General
Author Count
2
Added to Database
2026-01-25