Savagean ambiguity

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Peter Wakker

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Nov 21, 2025, 9:11:33 AM11/21/25

to 'jkale@stmarys-ca.edu' via decision_theory_forum

Dear all,

The paper

Baillon, Aurélien, Han Bleichrodt, Chen Li, & Peter P. Wakker (2025) “Source Theory: A Tractable and Positive Ambiguity Theory,” Management Science 71, 8767–8782.

https://doi.org/10.1287/mnsc.2023.03307 (open access)

has now appeared in its final form.

In one sentence: it shows how probability weighting functions can be used to TRACTABLY analyze ambiguity, using Gilboa’s (1987) Savagean framework.