منابع مشابه
Alcohol reduces aversion to ambiguity
Several years ago, Cohen et al. (1958) demonstrated that under the influence of alcohol drivers became more risk prone, although their risk perception remained unchanged. Research shows that ambiguity aversion is to some extent positively correlated with risk aversion, though not very highly (Camerer and Weber, 1992). The question addressed by the present research is whether alcohol reduces amb...
متن کاملAmbiguity and Ambiguity Aversion
Consider the following choice problem, known as “Ellsberg’s three-color urn example”, or simply the “Ellsberg Paradox” (Ellsberg [7]). An urn contains 30 red balls, and 60 green and blue balls, in unspecified proportions; subjects are asked to compare (i) a bet on a red draw vs. a bet on a green draw, and (ii) a bet on a red or blue draw vs. a bet on a green or blue draw. If the subject wins a ...
متن کاملAmbiguity Aversion as a Reason to Choose Tournaments Ambiguity Aversion as a Reason to Choose Tournaments *
We test the implications of ambiguity aversion in a principal-agent problem with multiple agents. When output distributions are uncertain, models of ambiguity aversion suggest that tournaments may become more attractive than independent wage contracts, in contrast to the case where output distributions are known. We do so by presenting agents with a choice between tournaments and independent co...
متن کاملDecreasing aversion under ambiguity
Under which condition does the set of desirable uncertain prospects expand when wealth increases? We show that the decreasing concavity (DC) of the utility function is necessary and sufficient in the −maxmin expected utility model. In the smooth ambiguity aversion model with the ambiguity valuation function , the DC of and of ◦ is necessary and sufficient. An alternative definition of d...
متن کاملMeasuring Ambiguity Aversion
Loss Set A Set A Set A Set A Investment Set B Set B Set B Set B Insurance Set B Set B Set B Set B Furthermore, the subjects face four different types of information in both decision frames and treatments. The ‘precise’ information frame has exact probabilities and exact payments stated. In the ‘ambiguity in probability’ frames, the probability is stated as a range and the payment is fixed. Conv...
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ژورنال
عنوان ژورنال: Frontiers in Psychology
سال: 2015
ISSN: 1664-1078
DOI: 10.3389/fpsyg.2014.01578