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  • 标题:How do people cope with an ambiguous situation when it becomes even more ambiguous?
  • 本地全文:下载
  • 作者:Jürgen Eichberger ; Jörg Oechssler ; Wendelin Schnedler
  • 期刊名称:Discussion Paper Series / Universität Heidelberg, Department of Economics
  • 出版年度:2012
  • 卷号:2012
  • 出版社:Universität Heidelberg, Department of Economics
  • 摘要:As illustrated by the famous Ellsberg paradox, many subjects preferto bet on events with known rather than with unknown probabilities,i.e., they are ambiguity averse. In an experiment, we examine subjects'choices when there is an additional source of ambiguity, namely, whenthey do not know how much money they can win. Using a standardindependence assumption, we show that ambiguity averse subjectsshould continue to strictly prefer the urn with known probabilities.In contrast, our results show that many subjects no longer exhibitsuch a strict preference. This should have important ramifications formodeling ambiguity aversion
  • 关键词:ambiguity aversion; uncertainty; minmax-expected util-;ity
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