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Decreasing aversion under ambiguity [PDF]
Journal of Economic Theory, 2015 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Cherbonnier, Frédéric +1 more
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Updating Ambiguity Averse Preferences [PDF]
The B.E. Journal of Theoretical Economics, 2009 Dynamic consistency leads to Bayesian updating under expected utility. We ask what it implies for the updating of more general preferences. In this paper, we characterize dynamically consistent update rules for preference models satisfying ambiguity aversion. This characterization extends to regret-based models as well.
Eran Hanany, Peter Klibanoff
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Ambiguous games: Evidence for strategic ambiguity aversion [PDF]
Quarterly Journal of Experimental Psychology, 2007 The problem of ambiguity in games is discussed, and a class of ambiguous games is identified. A total of 195 participants played strategic-form games of various sizes with unidentified co-players. In each case, they first chose between a known-risk game involving a co-player indifferent between strategies and an equivalent ambiguous game involving one
Pulford, Briony D., Colman, Andrew M.
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Ellsberg Paradox: Ambiguity And Complexity Aversions Compared [PDF]
, 2016 We present a simple model where preferences with complexity aversion, rather than ambiguity aversion, resolve the Ellsberg paradox. We test our theory using laboratory experiments where subjects choose among lotteries that “range” from a simple risky ...
Kovářík, J., Levin, D., Wang, Tao
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Measuring Ambiguity Aversion [PDF]
SSRN Electronic Journal, 2014 We confront the generalized recursive smooth ambiguity aversion preferences of Klibanoff, Marinacci, and Mukerji (2005, 2009) with data using Bayesian methods introduced by Gallant and McCulloch (2009) to close two existing gaps in the literature. First, we use macroeconomic and financial data to estimate the size of ambiguity aversion as well as other
A. Ronald Gallant +2 more
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Journal of Medical Internet Research, 2021 BackgroundCommunicating scientific uncertainty about public health threats such as COVID-19 is an ethically desirable task endorsed by expert guidelines on crisis communication. However, the communication of scientific uncertainty is challenging because
Han, Paul K J +7 more
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Preference for playing order in games with and without replacement: Motivational biases and probability misestimations [PDF]
Judgment and Decision Making, 2022 This research explores the preference for playing order in games in which each of several players draws a random event (e.g., a ball from an urn), with and without replacement after each draw.
Kwanho Suk, Jieun Koo
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Neural correlates of decision-making under ambiguity and conflict
Frontiers in Behavioral Neuroscience, 2015 Studies of decision making under uncertainty generally focus on imprecise information about outcome probabilities (ambiguity). It is not clear, however, whether conflicting information about outcome probabilities affects decision making in the same ...
Helen ePushkarskaya +4 more
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Better the devil you know than the devil you don't: Neural processing of risk and ambiguity
NeuroImage, 2021 Risk and ambiguity are inherent in virtually all human decision-making. Risk refers to a situation in which we know the precise probability of potential outcomes of each option, whereas ambiguity refers to a situation in which outcome probabilities are ...
Shuyi Wu +4 more
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The Fundamental Equity Premium and Ambiguity Aversion in an International Context
Risks, 2018 Stocks are riskier than bonds. This causes a risk premium for stocks. That the size of this premium, however, seems to be larger than risk aversion alone can explain the so-called “equity premium puzzle”.
Minh Hai Ngo +2 more
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