Sniffnoy comments on Knightian Uncertainty and Ambiguity Aversion: Motivation - LessWrong
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Possibly relevant previous discussion:
http://lesswrong.com/lw/9e4/the_savage_theorem_and_the_ellsberg_paradox/
http://lesswrong.com/lw/9m3/the_ellsberg_paradox_and_money_pumps/