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This paper experimentally investigates individual information acquisition and decisions in ambiguous situations in which the degree of ambiguity can endogenously and individually be decreased by the subjects. In particular, I analyze how risk aversion, ambiguity attitude and personality traits...
Persistent link: https://www.econbiz.de/10010357825
processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …
Persistent link: https://www.econbiz.de/10010188142
We conducted a set of experiments to compare the effect of ambiguity in single person decisions and games. Our results suggest that ambiguity has a bigger impact in games than in ball and urn problems. We find that ambiguity has the opposite effect in games of strategic substitutes and...
Persistent link: https://www.econbiz.de/10012968585
This paper presents a nonparametric approach to classification of data from lottery experiments. Using very basic mathematical tools the paper endeavors to answer the questions: How to determine the "average" subject in a group? How to find a subject presenting the most similar behavior to a...
Persistent link: https://www.econbiz.de/10013141177
processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …
Persistent link: https://www.econbiz.de/10013073252
I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity. In a between-subjects design I vary whether subjects learn choices made individually by a "peer" in a first part when facing the same task a second time, and whether prospects...
Persistent link: https://www.econbiz.de/10010364762
This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral determinants in such contexts. Our model and the data...
Persistent link: https://www.econbiz.de/10011540812
Trust is an important driver of economic transactions, but how do people decide whom to trust? We conduct an experiment … führen ein Experiment durch, um zu untersuchen, ob Menschen dazu in der Lage sind, die Vertrauenswürdigkeit eines Fremden …
Persistent link: https://www.econbiz.de/10011609452
This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and social preferences in the form of inequality aversion as two decisive behavioral determinants in such contexts. Our model and the...
Persistent link: https://www.econbiz.de/10011618161
A risky choice experiment is based on one-dimensional choice variables and risk neutrality induced via binary lottery …
Persistent link: https://www.econbiz.de/10012981935