Results 11 to 20 of about 76,828 (293)
Alcohol reduces aversion to ambiguity [PDF]
Frontiers in Psychology, 2015 Several years ago, Cohen, Dearnaley, and Hansel [1] demonstrated that under the influence of alcohol drivers became more risk prone, although their risk perception remained unchanged.
Tadeusz eTyszka +2 more
doaj +3 more sources
Ambiguity Aversion and Trade [PDF]
Economic Theory, 2011 What is the effect of ambiguity aversion on trade? Although in a Bewley's model ambiguity aversion always lead to less trade, in other models this is not always true.
Alain Chateauneuf, Luciano I. de Castro
core +7 more sources
Preference for Randomization: Ambiguity Aversion and Inequality Aversion [PDF]
, 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.
Kaito Sato
core +3 more sources
Ambiguity Aversion and Incompleteness of Financial Markets [PDF]
The Review of Economic Studies, 2001 It is widely thought that incomes risks can be shared by trading infinancial assets. But financial assets typically carry some riskidiosyncratic to them, hence, disposing incomes risk using financial assetswill involve buying into the inherent ...
Jean-Marc Tallon, Sujoy Mukerji
core +10 more sources
Review of Economics and Statistics, 2023 Abstract We report the results of two experiments designed to better understand the mechanisms driving decision-making under ambiguity. We elicit individual preferences over different sources of uncertainty, entailing different degrees of complexity, from subjects with different sophistication levels.
Aydogan, Ilke +2 more
openaire +3 more sources
Ambiguity aversion in a delay analogue of the Ellsberg Paradox [PDF]
Judgment and Decision Making, 2012 Decision makers are often ambiguity averse, preferring options with subjectively known probabilities to options with unknown probabilities. The Ellsberg paradox is the best-known example of this phenomenon.
Bethany J. Weber, Wah Pheow Tan
doaj +2 more sources
Are Policymakers Ambiguity Averse?* [PDF]
The Economic Journal, 2019 Abstract We investigate the ambiguity preferences of a unique sample of real-life policymakers at the Paris UN climate conference (COP21). We find that policymakers are generally ambiguity averse. Using a simple design, we are moreover able to show that these preferences are not necessarily due to an irrational behavior, but rather to ...
Berger, Loïc, Bosetti, Valentina
openaire +3 more sources
Randomization and Ambiguity Aversion [PDF]
Econometrica, 2020 We propose a model of preferences in which the effect of randomization on ambiguity depends on how the unknown probability law is determined. We adopt the framework of Anscombe and Aumann (1963) and relax the axioms. In the resulting representation of the individual's preference, the individual has a collection of sets of priors
Ke, Shaowei, Zhang, Qi
openaire +2 more sources
The optimal insurance demand under an ambiguity aversion [PDF]
Seonmul yeongu, 2022 This study investigates insurance demand in a two-period model when a decision-maker (DM) is averse to the ambiguity of loss distributions. This study derives sufficient conditions such that the ambiguity-averse DM purchases more insurance than an ...
Jimin Hong
doaj +1 more source
Ambiguity Aversion and Underdiversification [PDF]
Journal of Financial and Quantitative Analysis, 2013 We examine asset allocation decisions under smooth ambiguity aversion when an investor has a prior degree of belief in the domestic capital asset pricing model (CAPM). Different from a Bayesian approach, the investor separately relies on the conditional distribution of returns and on the posterior over parameters to make decisions, rather than on the ...
GUIDOLIN, MASSIMO, Liu, Hening
openaire +1 more source