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Under α−maxmin⁡\alpha-\operatorname{maxmin} Expected Utility Theory, the Decision-Maker Is More Ambiguous Averse the Averse

Question 6

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Under α−maxmin⁡\alpha-\operatorname{maxmin} expected utility theory, the decision-maker is more ambiguous averse the more weight he puts on the highest probability of the preferred outcome occuring.

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