Ellsberg 1961: text, context, influence

Moscati, Ivan (2024) Ellsberg 1961: text, context, influence. Decisions in Economics and Finance, 47 (2). 627 - 653. ISSN 1593-8883

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Abstract

In 1961 Daniel Ellsberg published an article titled “Risk, Ambiguity, and the Savage Axioms” in the Quarterly Journal of Economics, which became a seminal contribution to the theory of decision-making under uncertainty. This paper analyzes Ellsberg’s 1961 classic, situates it within the context of decision-making theory in the 1950s and early 1960s and within the development of Ellsberg’s ideas, and provides an overview of the experimental and theoretical literature to which it gave rise.

Item Type:	Article
Additional Information:	© The Author(s) 2024.
Divisions:	CPNSS
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HG Finance B Philosophy. Psychology. Religion > B Philosophy (General)
JEL classification:	B - Schools of Economic Thought and Methodology > B2 - History of Economic Thought since 1925 > B21 - Microeconomics B - Schools of Economic Thought and Methodology > B3 - History of Thought: Individuals > B31 - Individuals D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C90 - General
Date Deposited:	04 Jun 2024 14:27
Last Modified:	10 Nov 2025 00:30
URI:	http://eprints.lse.ac.uk/id/eprint/123761

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