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Do decision makers have subjective probabilities? An experimental test

Ronayne, David; Veneziani, Roberto; Zame, William R. - 2022

Anscombe & Aumann (1963) offer a definition of subjective probability in terms of comparisons with objective probabilities. That definition - which has provided the basis for much of the succeeding work on subjective probability - presumes that the subjective probability of an event is...

Persistent link: https://www.econbiz.de/10014030563

Ellsberg re-revisited : an experiment disentangling model uncertainty and risk aversion

Berger, Loic; Bosetti, Valentina - 2016

The results of an experiment extending Ellsberg's setup demonstrate that attitudes towards ambiguity and compound …

Persistent link: https://www.econbiz.de/10011457763

Decision making under uncertainty : an experimental study in market settings

Echenique, Federico; Imai, Taisuke; Saito, Kota - 2019

We design and implement a novel experimental test of subjective expected utility theory and its generalizations. Our experiments are implemented in the laboratory with a student population, and pushed out through a large-scale panel to a general sample of the US population. We find that a...

Persistent link: https://www.econbiz.de/10012126236

When rational decision-making becomes irrational : a critical assessment and re-conceptualization of intuition effectiveness

Julmi, Christian - In: Business research 12 (2019) 1, pp. 291-314

Intuition can lead to more effective decision-making than analysis under certain conditions. This assumption can be … regarded as common sense. However, dominant research streams on intuition effectiveness in decision-making conceptualize … article suggests the structuredness of the decision problem as the main criterion for intuition effectiveness, and proposes …

Persistent link: https://www.econbiz.de/10012029308

Boolean representations of preferences under ambiguity

Frick, Mira; Iijima, Ryota; Le Yaouanq, Yves - 2019

We propose a class of multiple-prior representations of preferences under ambiguity where the belief the decision …

Persistent link: https://www.econbiz.de/10012064758

Do decision makers have subjective probabilities? : an experimental test

Ronayne, David; Veneziani, Roberto; Zame, William R. - 2022 - This version: June 21, 2022

Anscombe and Aumann (1963) offer a definition of subjective probability in terms of comparisons with objective probabilities. That definition - which has provided the basis for much of the succeeding work on subjective probability - presumes that the subjective probability of an event is...

Persistent link: https://www.econbiz.de/10013259255

Do decision makers have subjective probabilities? : an experimental test

Ronayne, David; Veneziani, Roberto; Zame, William R. - 2022 - This version: June 21, 2022

Persistent link: https://www.econbiz.de/10013264885

Strategic information selection

Preker, Jurek; Karos, Dominik - 2024

Before choosing her action to match the state of the world, an agent observes a stream of messages generated by some unknown binary signal. The agent can either learn the underlying signal for free and update her belief accordingly or ignore the observed message and keep her prior belief. After...

Persistent link: https://www.econbiz.de/10014511689

Quantum decision theory and the Ellsberg paradox

Al-Nowaihi, Ali; Dhami, Sanjit S.; Wei, Mengxing - 2018

We formulate a simple quantum decision model of the Ellsberg paradox. We report the results of an experiment we …

Persistent link: https://www.econbiz.de/10011877824

Measuring ambiguity aversion : a systematic experimental approach ; conference paper

Krahnen, Jan Pieter; Ockenfels, Peter; Wilde, Christian - 2014

average. Taken together, the results support the view that ambiguity is an important and distinct argument in decision making …

Persistent link: https://www.econbiz.de/10010489289