When does ambiguity fade away?

Consider an ambiguous situation in which there is a set of models of the world that are considered possible. We show that if this set of models is sufficiently rich, then learning will cause ambiguity to fade away over time.

Coauthored with Filippo Massari.

Published in Economics Letters (2020). Link to paper.

The thumbnail image is of whisky, light, reflections, refractions and a face.