English Explanatory Dictionary

Ellsberg paradox

English dictionary entry

Meanings

name
  1. A paradox of choice in which people's decisions produce inconsistencies with subjective expected utility theory.

Word forms

Ellsberg paradox the Ellsberg paradox Ellsberg's paradox

Etymology

Popularized by Daniel Ellsberg in his 1961 paper “Risk, Ambiguity, and the Savage Axioms”, although a version of it was noted considerably earlier by John Maynard Keynes.

Related words

ambiguity aversion
This entry uses open data from Wiktionary (CC BY-SA/GFDL). Word forms are used for search and are not indexed as separate pages.
Back to search All on E Russian dictionary Dahl dictionary