Measuring higher order ambiguity preferences.
Ontology highlight
ABSTRACT:
SUBMITTER: Baillon A
PROVIDER: S-EPMC5913386 | biostudies-other | 2018
REPOSITORIES: biostudies-other
Publications
Measuring higher order ambiguity preferences.
Baillon Aurélien A Schlesinger Harris H van de Kuilen Gijs G
Experimental economics 20170831 2
We report the results from an experiment designed to measure attitudes towards ambiguity beyond ambiguity aversion. In particular, we implement recently-proposed model-free preference conditions of ambiguity prudence and ambiguity temperance. Ambiguity prudence has been shown to play an important role in precautionary behavior and the mere presence of ambiguity averse agents in markets. We observe that the majority of individuals' decisions are consistent with ambiguity aversion, ambiguity prude ...[more]
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