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subjects’ “internal” ambiguity aversion increases in performance in the high-competence task and that “external” ambiguity … confidence and ambiguity attitudes in individual decision making. Different ambiguity settings not only can be determined by the … multistage experiment where subjects face different sources of ambiguity and where we are able to control for self …
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People benefit from being perceived as trustworthy. Examples include sellers trying to attract buyers, or candidates in elections trying to attract voters. In a laboratory experiment using exchange games, in which the trustor can choose the trustee, we study whether trustees can signal their...
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The Savage and the Anscombe–Aumann frameworks are the two most popular approaches used when modeling ambiguity. The …
Persistent link: https://www.econbiz.de/10014503445
Individuals exhibit a randomization preference if they prefer random mix-tures of two bets to each of the involved bets. Such preferences provide thefoundation of various models of uncertainty aversion. However, it has to ourknowledge not been empirically investigated whether uncertainty-averse...
Persistent link: https://www.econbiz.de/10009249012
Two rationality arguments are used to justify the link between condi-tional and unconditional preferences in decision theory: dynamic consistencyand consequentialism. Dynamic consistency requires that ex ante contingentchoices are respected by updated preferences. Consequentialism states...
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ambiguity may induce such behaviour.[...] …
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new way of representing of probabilistic ambiguity. Thus we can see how individual valuation reacts to different degrees … of ambiguity probability information provided to subjects. That way, we can also eliminate “anchoring and adjustment …
Persistent link: https://www.econbiz.de/10005866670