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Comparing descriptive and theoretical models of decision-making under uncertainty and their relation to socioeconomic factors. [PDF]
PLoS ONEThis study examines the selection and validation of measurement models for decision-making under uncertainty, with particular emphasis on the integration of socioeconomic contexts in these models. We critically compared four distinct models, differing in
Brendan Lam +3 more
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An examination of ambiguity aversion [PDF]
Judgment and Decision Making, 2007 Ambiguity aversion has been widely observed in individuals' judgments. Using scenarios that are typical in decision analysis, we investigate ambiguity aversion for pairs of individuals.
L. Robin Keller +2 more
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Ambiguity aversion and household portfolio choice puzzles: Empirical evidence [PDF]
Journal of Financial Economics, 2016 Stephen G Dimmock +2 more
exaly +2 more sources
Ambiguity aversion: bibliometric analysis and literature review of the last 60 years [PDF]
Management Review Quarterly, 2021 Christoph Bühren, Marco Plessner
exaly +1 more source
Preferences after pan(dem)ics: Time and risk in the shadow of COVID-19 [PDF]
Judgment and Decision Making, 2022 This paper uses the COVID-19 health crisis to study how individual preferences respond to generalized traumatic events. We review previous literature on natural and man-made disasters. Using incentive-compatible tasks, we simultaneously estimate risk and
Xavier Gassmann +3 more
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Journal of Integrative Agriculture, 2023 Based on the microdata of 705 wheat farmers in the Loess Plateau, this study empirically analyzes the impact of uncertainty on farmers’ adoption of innovative seeds using a field experiment.
Hai-xia WU, Yan SONG, Le-shan YU, Yan GE
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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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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
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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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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
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