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Hard evidence and ambiguity aversion
Authors:Mehdi Ayouni  Frédéric Koessler
Institution:1.Thema, Université de Cergy-Pontoise,Cergy-Pontoise,France;2.Paris School of Economics-CNRS,Paris,France
Abstract: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.
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