If ambiguity aversion is a paradox and not just a cognitive bias, does this mean that all irrational things people systematically do are also paradoxes?
What particular definition of “paradox” are you using? E.g, which one of the definitions in the Paradox wikipedia article?
Meh. It should not really affect what I’ve said or what I intend to say later if you substitute “Violation of the rules of probability” or “of utility” for “paradox” (Ellsberg and Allais resp.) However paradox is what they’re generally called. And it’s shorter.
If ambiguity aversion is a paradox and not just a cognitive bias, does this mean that all irrational things people systematically do are also paradoxes?
What particular definition of “paradox” are you using? E.g, which one of the definitions in the Paradox wikipedia article?
Meh. It should not really affect what I’ve said or what I intend to say later if you substitute “Violation of the rules of probability” or “of utility” for “paradox” (Ellsberg and Allais resp.) However paradox is what they’re generally called. And it’s shorter.