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dc.contributor.authorBrenner, Menachem-
dc.contributor.authorIzhakian, Yehuda-
dc.contributor.authorSade, Orly-
dc.description.abstractThere are two phenomena in behavioral finance and economics which are seemingly unrelated and have been studied separately; overconfidence and ambiguity aversion. In this paper we are trying to link these two phenomena providing a theoretical foundation supported by evidence from an experimental study. We derive a model, based on the max-min ambiguity framework that links overconfidence to ambiguity aversion. In the experimental study we find that overconfidence is decreasing in ambiguity, as predicted by our model.en
dc.titleAmbiguity and Overconfidenceen
dc.typeWorking Paperen
Appears in Collections:Finance Working Papers

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