Measuring higher order ambiguity preferences

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dc.contributor.authorBaillon, Aurelien
dc.contributor.authorSchlesinger, Harris
dc.contributor.authorvan de Kuilen, Gijs
dc.contributor.otherErasmus University Rotterdam
dc.contributor.otherErasmus University Rotterdam - Excl Erasmus MC
dc.contributor.otherUniversity of Alabama Tuscaloosa
dc.contributor.otherTilburg University
dc.date.accessioned2023-09-28T19:32:03Z
dc.date.available2023-09-28T19:32:03Z
dc.date.issued2018
dc.description.abstractWe 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 prudence and ambiguity temperance. This finding confirms the prediction of many popular (specifications of) ambiguity models and has important implications for models of prevention behavior.en_US
dc.format.mediumelectronic
dc.format.mimetypeapplication/pdf
dc.identifier.citationBaillon, A., Schlesinger, H., & van de Kuilen, G. (2017). Measuring higher order ambiguity preferences. In Experimental Economics (Vol. 21, Issue 2, pp. 233–256). Springer Science and Business Media LLC. https://doi.org/10.1007/s10683-017-9542-3
dc.identifier.doi10.1007/s10683-017-9542-3
dc.identifier.orcidhttps://orcid.org/0000-0002-0169-9760
dc.identifier.orcidhttps://orcid.org/0000-0002-8961-2817
dc.identifier.urihttps://ir.ua.edu/handle/123456789/11394
dc.languageEnglish
dc.language.isoen_US
dc.publisherSpringer
dc.rights.licenseAttribution 4.0 International (CC BY 4.0)
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectHigher-order preferences
dc.subjectPrudence
dc.subjectAmbiguity attitude
dc.subjectRisk attitude
dc.subjectRISK-AVERSION
dc.subjectEXPECTED UTILITY
dc.subjectUNCERTAINTY
dc.subjectDECISIONS
dc.subjectREPRESENTATION
dc.subjectATTITUDES
dc.subjectPRUDENCE
dc.subjectMODEL
dc.subjectEconomics
dc.titleMeasuring higher order ambiguity preferencesen_US
dc.typeArticle
dc.typetext

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