Showing 101 - 110 of 288
Evidence from high-income countries suggests that judges often exhibit in-group bias, favoring litigants that share an identity with the judge. However, there is little evidence on this phenomenon from the Global South. Collecting the available universe of High Court decisions in Kenya, this...
Persistent link: https://www.econbiz.de/10013208966
Most models of ambiguity aversion satisfy Anscombe-Aumann's Monotonicity axiom. This paper proposes a test of Monotonicity, the Allais Horse Race. It is an adaptation of the Allais paradox to a setting with both subjective and objective uncertainty. Viewed as a thought experiment, the Allais...
Persistent link: https://www.econbiz.de/10011420568
Most models of ambiguity aversion satisfy Anscombe-Aumann's Monotonicity axiom. Monotonicity imposes separability of preferences across events that occur with unknown probability. We construct a test of Monotonicity by modifying the Allais paradox to a setting with both subjective and objective...
Persistent link: https://www.econbiz.de/10011663171
Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...
Persistent link: https://www.econbiz.de/10014554637
Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...
Persistent link: https://www.econbiz.de/10014567523
Most models of ambiguity aversion satisfy Anscombe-Aumann's Monotonicity axiom. This paper proposes a test of Monotonicity, the Allais Horse Race. It is an adaptation of the Allais paradox to a setting with both subjective and objective uncertainty. Viewed as a thought experiment, the Allais...
Persistent link: https://www.econbiz.de/10011347526
Most models of ambiguity aversion satisfy Anscombe-Aumann's Monotonicity axiom. Monotonicity imposes separability of preferences across events that occur with unknown probability. We construct a test of Monotonicity by modifying the Allais paradox to a setting with both subjective and objective...
Persistent link: https://www.econbiz.de/10012970839
Persistent link: https://www.econbiz.de/10012022657
Persistent link: https://www.econbiz.de/10011974657
Most models of ambiguity aversion satisfy Anscombe-Aumann's Monotonicity axiom. Monotonicity imposes separability of preferences across events that occur with unknown probability. We construct a test of Monotonicity by modifying the Allais paradox to a setting with both subjective and objective...
Persistent link: https://www.econbiz.de/10011657339