-contingent consumer's surplus and the state-contingent marginal utility of wealth and a second term representing risk aversion. This … consumer's surplus is determined by the covariance between preferences and consumer's surplus and risk aversion. The sign of …. We then apply this result to the allocation of risk in the context of both public and private goods. In Section 3, we …

willingness to enter competition with uncertainty and ambiguity, but men react slightly more than women. Overall, both effects … contribute to men winning the tournament significantly more often than women under uncertainty and ambiguity. Hence, previous … uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We …

willingness to enter competition with uncertainty and ambiguity, but men react slightly more than women. Overall, both effects … contribute to men winning the tournament significantly more often than women under uncertainty and ambiguity. Hence, previous … uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We …

men winning the tournament significantly more often than women under uncertainty and ambiguity. These findings suggest … disparities from increasing under uncertainty and ambiguity. …. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be …

men winning the tournament significantly more often than women under uncertainty and ambiguity. These findings suggest … disparities from increasing under uncertainty and ambiguity. …. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be …

they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about … probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU. …

We propose the Virtual Bingo Blower (VBB) as a way to generate credible risk and ambiguity in computerized experiments …, we measure ambiguity attitudes and vary the source of ambiguity, using either the VBB or natural events. We find that the … VBB and natural events result in a similar degree of ambiguity aversion. Further, we find that, by manipulating the number …

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 …

two treatments: (1) the search treatment in the context of SDM under uncertainty, where the decision makers are not … disclosed the payoff structure; (2) the choice treatment in the context of SDM under risk, where the decision makers are … distribution lead to robust deviations from maximisation. The results of the choice treatment show that the risk-averse decision …

Bayesian assumption commonly made in prior studies on tail risk and model uncertainty, and they also demonstrate the importance …How do people cope with tail risk? In a lab experiment that removed informational and incentive confounds, subjects … overwhelmingly behaved like Bayesian learners. The results of simulations further revealed that if one is to survive under tail risk …