Ellsberg revisited: An experimental study

被引：302

作者：

Halevy, Yoram ^{[1
]}

机构：

[1] Univ British Columbia, Dept Econ, Vancouver, BC V6T 1Z1, Canada

来源：

ECONOMETRICA | 2007年 / 75卷 / 02期

关键词：

uncertainty aversion; probabilistic sophistication; reduction of compound lotteries; nonexpected utility; maxmin expected utility; anticipated utility; rank dependent utility; recursive utility; compound independence; bundling; rule rationality;

D O I：

10.1111/j.1468-0262.2006.00755.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An extension to Ellsberg's experiment demonstrates that attitudes to ambiguity and compound objective lotteries are tightly associated. The sample is decomposed into three main groups: subjective expected utility subjects, who reduce compound objective lotteries and are ambiguity neutral, and two groups that exhibit different forms of association between preferences over compound lotteries and ambiguity, corresponding to alternative theoretical models that account for ambiguity averse or seeking behavior.

引用

页码：503 / 536

页数：34

共 41 条

[21] Risk aversion and incentive effects: New data without order effects [J].

Holt, CA ;

Laury, SK .

AMERICAN ECONOMIC REVIEW, 2005, 95 (03) :902-904

[22] Risk aversion and incentive effects [J].

Holt, CA ;

Laury, SK .

AMERICAN ECONOMIC REVIEW, 2002, 92 (05) :1644-1655

[23]

HOLT CA, 1986, AM ECON REV, V76, P508

[24] PREFERENCE REVERSAL AND THE OBSERVABILITY OF PREFERENCES BY EXPERIMENTAL METHODS [J].

KARNI, E ;

SAFRA, Z .

ECONOMETRICA, 1987, 55 (03) :675-685

[25] THE BECKER-DEGROOT-MARSCHAK MECHANISM AND GENERALIZED UTILITY THEORIES - THEORETICAL PREDICTIONS AND EMPIRICAL OBSERVATIONS [J].

KELLER, LR ;

SEGAL, U ;

WANG, T .

THEORY AND DECISION, 1993, 34 (02) :83-97

[26] A smooth model of decision making under ambiguity [J].

Klibanoff, P ;

Marinacci, M ;

Mukerji, S .

ECONOMETRICA, 2005, 73 (06) :1849-1892

[27] TEMPORAL RESOLUTION OF UNCERTAINTY AND DYNAMIC CHOICE THEORY [J].

KREPS, DM ;

PORTEUS, EL .

ECONOMETRICA, 1978, 46 (01) :185-200

[28] A MORE ROBUST DEFINITION OF SUBJECTIVE-PROBABILITY [J].

MACHINA, MJ ;

SCHMEIDLER, D .

ECONOMETRICA, 1992, 60 (04) :745-780

[29] Risk, uncertainty and hidden information [J].

Morris, S .

THEORY AND DECISION, 1997, 42 (03) :235-269

[30] Uncertainty aversion with second-order utilities and probabilities [J].

Nau, RF .

MANAGEMENT SCIENCE, 2006, 52 (01) :136-145

← 1 2 3 4 5 →