Dolan, Paul

Jones, Martin

English

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. A total of 93 subjects valued a series of gambles, one of which was played out for real. The results do not lend support to the theory, although the relationship between risk and ambiguity does appear to correspond with other theories and previous empirical work

Discovery Research Portal

Dundee Discussion Papers in Economics 131:Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis

A Treatise on Probability.

Ambiguity Aversion and Comparative Ignorance.

An Empirical Evaluation of Descriptive Sources of

Anomalies: the endowment effect, loss aversion, and status-quo bias.

Comparative Ignorance and the Ellsberg Paradox.

Measuring Utility by a single response sequential method.

Modelling Ambiguity in Decisions under

Predicting Buyer-Seller Pricing Disparities.

Preference and Belief: Ambiguity and Competence in Choice under Uncertainty.

Prospect Theory: An Analysis of Decision under Risk.

Recent Developments in Modeling Preferences: Uncertainty and Ambiguity.

Reference Points, Loss Aversion and Contingent Values for Auto Safety.

Risk, Uncertainty and Profit.

The Center and Range of the Probability Interval as factors affecting Ambiguity Preferences. Organizational Behavior and Human Decision Processes.

The Foundations of Statistics.

Venture Theory: A model of Decision Weights.

What Price Ambiguity? Or the Role of Ambiguity in Decision Making.

http://discovery.dundee.ac.uk/ws/files/105114/DDPE_131.pdf

Dundee Discussion Papers in Economics 131:Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis

Abstract

Similar works

Full text

Available Versions

Discovery Research Portal

Discovery Research Portal