Career Concerns and Ambiguity Aversion

Why do people have ambiguity aversion, preferring, a gamble with a 50% chance of success to one whose expected probability of success is 50% but where that 50% is an unbiased estimate? The answer modelled here, in the spirit of the career concerns literature, is learning: a risk-averse person does not wish observers to learn whether he is good or bad at estimating probabilities. He therefore prefers a gamble with objective probabilities

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Year of publication:	[2014]
Authors:	Rasmusen, Eric Bennett
Publisher:	[2014]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (8 p)
Type of publication:	Book / Working Paper
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 5, 2008 erstellt
Other identifiers:	10.2139/ssrn.1129801 [DOI]
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; G31 - Capital Budgeting; Investment Policy ; L21 - Business Objectives of the Firm ; M40 - Accounting and Auditing. General ; m46
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012708953