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Behavioral economics aspires to replace the agents of neoclassical economics with living, breathing human beings. Here, the author argues that behavioral economics, like its neoclassical counterpart, often neglects the role of active sense-making that motivates and guides much human behavior....
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human nature, pays equal attention to cognition's successes and failures, embraces multidisciplinary insights, and avoids …
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This paper provides a systematic analysis of individual attitudes towards ambiguity, based on laboratory experiments …. The design of the analysis allows to capture individual behavior across various levels of ambiguity, ranging from low to … high. Attitudes towards risk and attitudes towards ambiguity are disentangled, providing pure measures of ambiguity …
Persistent link: https://www.econbiz.de/10010365123
This paper provides a systematic analysis of individual attitudes towards ambiguity, based on laboratory experiments …. The design of the analysis allows to capture individual behavior across various levels of ambiguity, ranging from low to … high. Attitudes towards risk and attitudes towards ambiguity are disentangled, providing pure measures of ambiguity …
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 … consistency of individual ambiguity preferences elicited using a variety of incentivized tasks, non-incentivized thought …
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