Eliciting ambiguity with mixing bets
Fuente:
arXiv
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| Autore principale: | |
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| Natura: | Preprint |
| Pubblicazione: |
2019
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| Soggetti: | |
| Accesso online: | |
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| _version_ | 1866911988526874624 |
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| author | Schmidt, Patrick |
| author_facet | Schmidt, Patrick |
| contents | Preferences for mixing can reveal ambiguity perception and attitude on a single event. The validity of the approach is discussed for multiple preference classes including maxmin, maxmax, variational, and smooth second-order preferences. An experimental implementation suggests that participants perceive almost as much ambiguity for the stock index and actions of other participants as for the Ellsberg urn, indicating the importance of ambiguity in real-world decision-making. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_1902_07447 |
| institution | arXiv |
| publishDate | 2019 |
| record_format | arxiv |
| spellingShingle | Eliciting ambiguity with mixing bets Schmidt, Patrick Econometrics Preferences for mixing can reveal ambiguity perception and attitude on a single event. The validity of the approach is discussed for multiple preference classes including maxmin, maxmax, variational, and smooth second-order preferences. An experimental implementation suggests that participants perceive almost as much ambiguity for the stock index and actions of other participants as for the Ellsberg urn, indicating the importance of ambiguity in real-world decision-making. |
| title | Eliciting ambiguity with mixing bets |
| topic | Econometrics |
| url | https://arxiv.org/abs/1902.07447 |