Updating ambiguity averse preferences
2007), and multiple priors (Gilboa and Schmeidler 1989; Ghirardato et al. The natural updating theory of SEU preferences Siniscalchi (2009) refers to is Savage’s axiom P2, bestknown as the “sure thing principle”.
Search for updating ambiguity averse preferences:
Its main contribution is to design and analyse a simple example to demonstrate that MLU suffers from unintuitive characteristics.