期刊名称：Discussion Paper Series / Universität Heidelberg, Department of Economics
出版年度：2014
出版社：Universität Heidelberg, Department of Economics
摘要：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 (to- gether) have not been featured in similar exp eriments: Strict ambiguity preferences, a single decision, and a mechanical randomization device with an unknown distribution (to both sub jects and experimenters). We use this device in order to eliminate possible 'strategic' ambiguity related to sub jects' beliefs about the experimenters' motivations. In addition, we survey 40 experimental studies on Ellsberg's two- and three-color prob- lems, and find that, on average, slightly more than half of sub jects are classified as ambiguity averse. Our results, with our new design, fall on the low end of the range of results in the surveyed studies, and are comparable to a control test where "strategic" ambiguity was induced
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