Let W (ψ; x, y) be the wideband ambiguity function. It is obtained in this note that y− α+2 2 W (ψ;x, y)(α > −1) is SO(2)-invariant if and only if the Fourier transform of ψ is a Laguerre function.

We provide a rationale for ambiguous communication. We do so by considering a cheap talk game in which a (possibly ambiguity averse) sender (S) able to randomize according to unknown probabilities faces an ambiguity averse receiver (R). We show that under fairly general circumstances, there exist equilibria featuring Ellsbergian communication strategies that allow both S and R to obtain a highe...

The distributionally robust Markov Decision Process approach has been proposed in the literature, where the goal is to seek a distributionally robust policy that achieves the maximal expected total reward under the most adversarial joint distribution of uncertain parameters. In this paper, we study distributionally robust MDP where ambiguity sets for uncertain parameters are of a format that ca...

The Working Papers should not be reported as representing the views of the Banco Central do Brasil. The views expressed in the papers are those of the author(s) and do not necessarily reflect those of the Banco Central do Brasil. This paper characterizes ambiguity averse preferences in the absence of the completeness axiom. We axiomatize multiple selves versions of some of the most important ex...

We show that an increase in uncertainty about the probability of being audited (ambiguity) increases tax compliance for ambiguity-averse taxpayers but reduces compliance for ambiguity lovers. Because experimental evidence reveals considerable heterogeneity with respect to ambiguity preferences, we conclude that fostering uncertainty about the probability of being audited may not be an effective...

In today's investment world there is emphasis on the role of accounting information. Behavioral factors always play an important role in financial markets. All investors are not rational and their demand for riskiness of assets is influenced by their beliefs and feelings. Optimism, pessimism, self-confidence, ambiguity-aversion, etc. help changing the manner of decision-making process over time...

Modern portfolio theory is based on the relationship between risk and return and in this paper, specific uncertainty conditions are introduced as ambiguity which affects the asset pricing. Also, the relationship between risk, ambiguity and return is examined. First, ambiguity is estimated by the means of three-variable and main component method, trading volume, ask-bid spread, error of earnings...

The article deals with the characteristics of noun phrases functioning in pre-position. Pre-noun modifiers, or attributive modifiers, are among the high-capacity structures in the contemporary English language, as they enable to devoid of prepositions and to describe objects in a laconic way. The goal of this research was to analyze the way scholars interpret this linguistic structure today, as...

Abstract The researchers have been interested to explore the impact of personality traits on second or foreign language learning. The current study is an attempt to investigate whether there exists a statistically significant relationship between introvert and extrovert EFL learners’ willingness to communicate and ambiguity tolerance. To this end, a total of 150 EFL learners completed the Intro...