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The ambiguity triangle : uncovering fundamental patterns of behavior under uncertainty

Burghart, Dan; Epperly, Thomas G. W.; Fehr, Ernst - 2015

risk preferences. Here, we develop an analogous tool for choice under uncertainty - the ambiguity triangle - and show that … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …

Persistent link: https://www.econbiz.de/10011289313

The role of interpersonal uncertainty in prosocial behavior

Chakraborty, Anujit; Henkel, Luca - 2025

In prosocial decisions, decision-makers face interpersonal uncertainty - uncertainty about how their choices impact others' utility. We use three approaches to show how it shapes classic patterns of prosocial behavior like ingroup favoritism, merit-based fairness, and self-favoring behavior....

Persistent link: https://www.econbiz.de/10015199844

Robustness of the encouragement design in a two-treatment randomized control trial

Behaghel, Luc; Crépon, Bruno; Gurgand, Marc - 2013

monotonicity conditions. We illustrate the results using data from a large randomized experiment where job seekers at risk of long …

Persistent link: https://www.econbiz.de/10009755324

Robust standard errors in transformed likelihood estimation of dynamic panel data models

Hayakawa, Kazuhiko; Pesaran, M. Hashem - 2012

This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are crosssectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...

Persistent link: https://www.econbiz.de/10009545313

Robust estimation of linear fixed effects panel data models with an application to the exporter productivity premium

Verardi, Vincenzo; Wagner, Joachim - 2010

In empirical studies it often happens that some variables for some units are far away from the other observations in the sample. These extreme observations, or outliers, often have a large impact on the results of statistical analyses – conclusions based on a sample with and without these...

Persistent link: https://www.econbiz.de/10003962105

Navigating ambiguity : imprecise probabilities and the updating of disease risk beliefs

Kerwin, Jason; Pandey, Divya - 2023

Probabilistic risk beliefs are key drivers of economic and health decisions, but people are not always certain about … measurable separately from the levels of risk beliefs. People with higher levels of imprecision update their beliefs more in …

Persistent link: https://www.econbiz.de/10014390526

The effect of macroeconomic uncertainty on firm decisions

Kumar, Saten; Gorodnichenko, Yuriy; Coibion, Olivier - 2022

Using a new survey of firms in New Zealand, we document how exogenous variation in the macroeconomic uncertainty perceived by firms affects their economic decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...

Persistent link: https://www.econbiz.de/10013329618

Dynamic incentive contracts under parameter uncertainty

Prat, Julien; Jovanovic, Boyan - 2010

We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed...

Persistent link: https://www.econbiz.de/10009303458

A field study of Chinese migrant workers' attitudes toward risks, strategic uncertainty, and competitiveness

Hao, Li; Houser, Daniel; Mao, Lei; Villeval, Marie-Claire - 2014

Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk … from non-migrants in risk and ambiguity preferences elicited using pairs of lotteries; however, migrants are significantly … competitive environment than by risk attitudes under state uncertainty. …

Persistent link: https://www.econbiz.de/10010360288

How uncertainty and ambiguity in tournaments affect gender differences in competitive behavior

Balafoutas, Loukas; Sutter, Matthias - 2019

Tournament incentives prevail in labor markets. Yet, the number of tournament winners is often unclear to competitors. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We present a...

Persistent link: https://www.econbiz.de/10012015779