The ''new'' Geithner plan

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Luca: serious question. In what sense "ambiguity" fits the observations better than the plain idea that those who have the info believes this stuff is worth nothing? I understand that under ambiguity if someone follows, say, a α-MEU rule (as in Ghirardato, Maccheroni, Marinacci) one tends to invest less (in fact, see Paolo&Co on this).

My issue is: is there a way to tell the two things apart? That one knows better than the other versus both being in an "ambiguous" situation?