Ambiguous Matter

A Matter of Interpretation: Bargaining over Ambiguous Contracts

We present a formal treatment of contracting in the face of ambiguity. The central idea is that boundedly rational individuals will not always interpret the same situation in the same way. More speci cally, even with well de ned contracts, the precise actions to be taken by each party to the contract might be disputable. Taking this potential for dispute into account, we analyze the e ects of a...

A matter of interpretation: Ambiguous contracts and liquidated damages

Ambiguous Solicitation: Ambiguous Prescription

We conduct a two-phase laboratory experiment, separated by several weeks. In the first phase, we conduct urn games intended to measure ambiguity aversion on a representative population of undergraduate students. In the second phase, we invite the students back with four different solicitation treatments, varying in the ambiguity of information regarding the task and the payout of the laboratory...

Do Ambiguous Reconstructions Always Give Ambiguous Images?

In many cases self-calibration is not able to yield a unique solution for the 3D reconstruction of a scene. This is due to the occurrence of critical motion sequences. If this is the case, an ambiguity is left on the reconstruction. In this paper it is derived under which conditions correct novel views can be generated from ambiguous reconstructions. The problem is first approached from a theor...

TITLE: A Matter of Interpretation: Ambiguous Contracts and Liquidated Damages Authors:

We focus on syntactic aspects of differential awareness that give rise to contractual disputes. Boundedly rational parties use a common language, but do not share a common understanding of the world, leading to ambiguity in both syntactic and semantic forms. In contractual relationships, ambiguity leads to disagreement and disputes. We show that the agents may prefer simpler less ambiguous cont...