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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
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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
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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
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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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Ambiguity aversion and trade [PDF]
Economic Theory, 2011 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
de Castro, Luciano, Chateauneuf, Alain
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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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Gender Differences in Risk Aversion and Ambiguity Aversion [PDF]
SSRN Electronic Journal, 2009 This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing literature relating economic preference parameters to psychological measures by asking whether variations in preference parameters among persons, and in particular across genders, can be accounted for by differences in personality traits
Lex Borghans +3 more
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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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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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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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