When ambiguity-averse investors process news of uncertain quality, they act as if they take a worst-case assessment of quality. As a result, they react more strongly to bad news than to good news. They also dislike assets for which information quality is poor, especially when the underlying fundamentals are volatile. These effects induce ambiguity premia that depend on idiosyncratic risk in fun...

The recently launched NASA Scatterometer (NSCAT) estimates the wind speed and direction of nearsurface ocean wind. This is done by directing microwaves toward the earth's surface and measuring the backscattered radiation. From this, several possible wind vectors are identified for each point over the swath. The correct wind must be distinguished from these in a step called ambiguity removal. Un...

The ?-MEU model and the smooth ambiguity are two popular models in decision making under ambiguity. However, axiomatic foundations of these not completely understood. We provide a symmetric setting with product state space S?. This allows marginals over S to be linked behaviorally (limiting frequency) events. Bets on such events shown reveal i.i.d. measures that relevant for maker's preferences...

Hard-particle packings have served as useful starting points to study the structure of diverse systems such as liquids, living cells, granular media, glasses, and amorphous solids. Howard Reiss has played a major role in helping to illuminate our understanding of hardparticle systems, which still offer scientists many interesting conundrums. Jammed configurations of hard particles are of great ...

ambiguity and obscurity are frequently used to indicate a similar meaning yet there are real differences between them. the ambiguity is an affirmative concept in arabic poetry, and the critics consider it as an artistic standard in best literary samples. whereas, obscurity is a negative concept which results to the lack of text's values of skillfulness. this article deals with an explanation of...

Uncertainty plays a critical role in the analysis for a wide and diverse set of fields from economics to engineering. The term ‘uncertainty’ has come to encompass a multiplicity of concepts. This paper begins with a literature survey of uncertainty definitions and classifications from various fields. A classification of uncertainty for the design and development of complex systems follows. The ...