, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would … request more information. Moreover, we investigate whether the relation between attitudes towards risk and ambiguity is linked …

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 are related to an individual's information acquisition prior to a … find that risk and ambiguity aversion affect the information acquisition but are less influential for the decisions between …

ambiguous urn. Holding other information identical and controlling for the level of ambiguity, we find that labeling assets as … ambiguity robust mean-variance model accurately predicts benchmark portfolio weights of the experimental control group, where … assets are not labeled: subjects allocate more wealth to assets with low ambiguity. For treatment group portfolios, which …

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 are related to an individual’s information acquisition prior to a … find that risk and ambiguity aversion affect the information acquisition but are less influential for the decisions between …

We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg’s three-color urn. The … procedure includes three design elements that (together) have not been featured in similar experiments: Strict ambiguity … experimenters). We use this device in order to eliminate possible ‘strategic’ ambiguity related to subjects’ beliefs about the …

ambiguous urn. Holding other information identical and controlling for the level of ambiguity, we find that labeling assets as … ambiguity robust mean-variance model accurately predicts benchmark portfolio weights of the experimental control group, where … assets are not labeled: subjects allocate more wealth to assets with low ambiguity. For treatment group portfolios, which …

, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would … request more information. Moreover, we investigate whether the relation between attitudes towards risk and ambiguity is linked …

We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the … of ambiguity aversion, one kinked and one smooth, that encompass many of the theoretical models in the literature. Each … specification includes two parameters: one for ambiguity attitudes and another for risk attitudes. We also estimate a three …