Similar Search Results

How Much Ambiguity Aversion? Finding Indifferences between Ellsberg's Risky and Ambiguous Bets

Binmore, Kenneth; Stewart, Lisa; Voorhoeve, Alex - 2021

substantially better than rival theories in our experiment, with ambiguity aversion appearing only as a secondary phenomenon …

Persistent link: https://www.econbiz.de/10013216693

Preference for randomization : ambiguity aversion and inequality aversion

Saito, Kota - 2010

In Anscombe and Aumann’s (1963) domain, there are two types of mixtures. One is an ex-ante mixture, or a lottery on acts. The other is an ex-post mixture, or a state-wise mixture of acts. These two mixtures have been assumed to be indifferent under the Reversal of Order axiom. However, we...

Persistent link: https://www.econbiz.de/10008665185

Preference for randomization and ambiguity aversion

Saito, Kota - 2011

Raiffa (1961) criticizes ambiguity-averse preferences by claiming that hedging is possible with randomization of choices. We argue that the timing of randomization is crucial for hedging. Ex-ante randomizations, which are randomizations before a state is realized, could provide only ex-ante...

Persistent link: https://www.econbiz.de/10008939199

Estimating Individual Ambiguity Aversion : A Simple Approach

Gneezy, Uri; Imas, Alex; List, John A. - 2021

We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this instrument, we structurally estimate a two-parameter model of preferences. Our findings indicate that ambiguity aversion is significantly overstated when risk neutrality is assumed....

Persistent link: https://www.econbiz.de/10013315553

Measuring strategic uncertainty in coordination games

Heinemann, Frank; Nagel, Rosemarie; Ockenfels, Peter - 2004

subjective beliefs of players. In a laboratory experiment we measure subjects' certainty equivalents for three coordination games …

Persistent link: https://www.econbiz.de/10010361993

Measuring Strategic Uncertainty in Coordination Games

Heinemann, Frank; Nagel, Rosemarie; Ockenfels, Peter - 2021

subjective beliefs of players. In a laboratory experiment, we measure subjects' certainty equivalents for three coordination …

Persistent link: https://www.econbiz.de/10013318801

Granny Versus Game Theorist : Ambiguity in Experimental Games

Eichberger, Jürgen; Kelsey, David; Schipper, Burkhard C. - 2006

We report on an experiment in which subjects choose actions in strategic games with either strategic complements or …

Persistent link: https://www.econbiz.de/10014055594

Measuring Strategic Uncertainty in Coordination Games

Heinemann, Frank; Ockenfels, Peter - 2006

subjective beliefs of players. In a laboratory experiment we measure subjects' certainty equivalents for three coordination games …

Persistent link: https://www.econbiz.de/10014061293

Decision and strategies in a sequential search experiment

Sonnemans, Joep - 1997

works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice …

Persistent link: https://www.econbiz.de/10011283474

Aging, probability weighting, and reference point adoption : an experimental study

Suzuki, Ayako (contributor); Kume, Koichi (contributor) - 2008

We examine generational differences in risk-taking behavior by means of a laboratory experiment with monetary … incentives. We estimate the parameterized models in the framework of cumulative prospect theory and examine the risk aversion …, probability weightings and reference point adoption of elderly and young groups. The results of our experiment indicate that the …

Persistent link: https://www.econbiz.de/10003757815