Moffatt, Peter G.; Sitzia, Stefania; Zizzo, Daniel John - School of Economics, University of East Anglia - 2014
We analyze lottery-choice data in a way that separately estimates the effects of risk aversion and complexity aversion … complexity aversion at the start of the experiment, but complexity aversion reduces with experience, to the extent that the … these findings are consistent with switching patterns seen in the choice data. Complexity aversion is found to increase with …