ABSTRACT
The classical Ellsberg experiment provides decision-makers with a choice problem in which the likelihood of winning the gambling is uncertain. In this paper, we consider a two-dimensional Ellsberg experiment in which the likelihood of winning the gambling and the income after that are both uncertain, establish a mathematical model to characterize the corresponding Ellsberg experiment and solve the choice problem based on probability theory, uncertainty theory, and chance theory.
Disclosure statement
No potential conflict of interest was reported by the author(s).