Dundee Discussion Papers in Economics 131:Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis [PDF]
, 2002 Many theories have been put forward to explain attitudes towards ambiguity. This paper reports on an experiment designed to test for the existence of Comparative Ignorance when it is tested over different levels of probabilities.
Dolan, Paul, Jones, Martin
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Solution of the Ellsberg paradox by means of the principle of uncertain future [PDF]
, 2008 The principle of uncertain future: the probability of a future event contains an (hidden) uncertainty. The first consequence of the principle: the real values of high probabilities are lower than the preliminarily determined ones; conversely, the real ...
Harin, Alexander
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Ellsberg Paradox and Second-order Preference Theories on Ambiguity: Some New Experimental Evidence
We study the two-color problem by Ellsberg (1961) with the modification that the decision maker draws twice with replacement and a different color wins in each draw.
Yao, Lan, Yang, Chun-Lei
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Cognitive modeling for understanding interactions between people and decision support tools in complex and uncertain environments: A study protocol. [PDF]
PLoS One, 2023 Molina I +8 more
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Structural credit risk model driven by Lévy process under knight uncertainty. [PDF]
Ann Oper Res, 2023 Tang Z, Zhong B, Zhou L, Shen C.
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Ellsberg Paradox and Disposition Effect
Journal of Resilient Economies (ISSN: 2653-1917)The Ellsberg paradox can help us understand how ambiguity can induce asset liquidation, which is reflected by gain or loss realization in the disposition effect. This study investigates the impact of ambiguity (as the Ellsberg Paradox describes) and framing effects on the disposition effect in asset liquidation decisions. By integrating prospect theory
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Giving more detailed information about health insurance encourages consumers to choose compromise options. [PDF]
Front Psychol, 2023 Chick SE, Hawkins SA, Soberman D.
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Solution of the Ellsberg paradox by means of the principle of uncertain future
The principle of uncertain future: the probability of a future event contains an (hidden) uncertainty. The first consequence of the principle: the real values of high probabilities are lower than the preliminarily determined ones; conversely, the real ...
Harin, Alexander
core
Cognition and Wealth: The Importance of Probabilistic Thinking [PDF]
This paper utilizes a large set of subjective probability questions from the Health and Retirement Survey to construct an index measuring the precision of probabilistic beliefs (PPB) and relates this index to household choices about the riskiness of ...
Lee Lillard, Robert J. Willis
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Evaluating and selecting arguments in the context of higher order uncertainty. [PDF]
Front Artif Intell, 2023 Straßer C, Michajlova L.
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