Hard evidence and ambiguity aversion

Journal article: This article shows that if an allocation rule can be implemented with unlimited information certification, then it can also be implemented with limited information certification if the designer can use ambiguous communication mechanisms, and if agents are averse to ambiguity in the sense of maxmin expected utility. The reverse implication is true if there is a single agent and a worst outcome.

Author(s)

Mehdi Ayouni, Frédéric Koessler

Journal
  • Theory and Decision
Date of publication
  • 2017
Keywords
  • Ambiguity
  • Certifiable information
  • Evidence disclosure
  • Mechanism design
  • Maxmin expected utility
Pages
  • 327-339
Version
  • 1
Volume
  • 82