Burks, Stephen V.; Carpenter, Jeffrey P.; Goette, Lorenz; … - Institute for the Study of Labor (IZA) - 2008
experiment, risk aversion, ambiguity aversion, loss aversion, time
preference, Prisoners Dilemma, social dilemma, IQ, MPQ … is measured by the way utility varies with different amounts of money, while that
of ambiguity aversion is measured by how strongly the choice is influenced by the lack of
precision … in the probability of outcomes. When we separate the two factors, risk aversion
and ambiguity aversion are strongly and significantly positively correlated (see SM).
CS …