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We propose a new paradigm to study coordination in complex social systems, such as financial markets, that accounts for fundamental uncertainty. This new context has features from prediction markets that have been shown previously to mitigate price bubbles in classical asset market experiments....
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risk and uncertainty. All essays are novel contributions and based on the experimental economics method. In some of the …
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high. Attitudes towards risk and attitudes towards ambiguity are disentangled, providing pure measures of ambiguity … aversion. Ambiguity aversion is captured in several ways, i.e. as a discount factor net of a risk premium, and as an estimated … intermediate levels of ambiguity aversion. Moreover, we find risk aversion to be statistically unrelated to ambiguity aversion on …
Persistent link: https://www.econbiz.de/10010365123
high. Attitudes towards risk and attitudes towards ambiguity are disentangled, providing pure measures of ambiguity … aversion. Ambiguity aversion is captured in several ways, i.e. as a discount factor net of a risk premium, and as an estimated … intermediate levels of ambiguity aversion. Moreover, we find risk aversion to be statistically unrelated to ambiguity aversion on …
Persistent link: https://www.econbiz.de/10010489289
Ambiguity aversion has shown to be economically relevant and has been proposed as an explanation for many phenomena in economics and finance. While the literature has suggested a large variety of elicitation methods to measure ambiguity preferences, their consistency and reliability it is rarely...
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