Are ambiguity aversion and ambiguity intolerance identical? A neuroeconomics investigation
نویسندگان
چکیده
منابع مشابه
Are ambiguity aversion and ambiguity intolerance identical? A neuroeconomics investigation
In recent years, there has been growing interest in understanding a person's reaction to ambiguous situations, and two similar constructs related to ambiguity, "ambiguity aversion" and "ambiguity intolerance," are defined in different disciplines. In the field of economic decision-making research, "ambiguity aversion" represents a preference for known risks relative to unknown risks. On the oth...
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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...
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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.2014.01550