Abstract This paper discusses Jean-Yves Jaffray's ideas on ambiguity and the views underlying his ideas. His models, developed 20 years ago, provide the most tractable separation of risk attitudes, ambiguity attitudes, and ambiguity beliefs available in the literature today.
Wakker REF notes that "[Jaffray's] models, developed 20 years ago, achieve a tractability and a separation between risk attitudes, ambiguity attitudes, and ambiguity beliefs that have not yet been obtained in other models popular today".
Jaffray’s ideas on ambiguity
Theory and Decision
Mathematics