Unintended hedging in ambiguity experiments
We describe an ambiguity hedging problem in Ellsberg experiments, where combinations of individually ambiguous bets eliminate aggregate ambiguity, and which may yield incorrect classifications of ambiguity averse subjects. We propose a new classification consistent with this hedging possibility.
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article (Journal) |
| Language: | English |
| Published: |
2014
|
| In: |
Economics letters
Year: 2014, Volume: 122, Issue: 2, Pages: 243-246 |
| ISSN: | 0165-1765 |
| DOI: | 10.1016/j.econlet.2013.11.029 |
| Online Access: | Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1016/j.econlet.2013.11.029 Verlag, lizenzpflichtig, Volltext: http://www.sciencedirect.com/science/article/pii/S0165176513005235 
|
| Author Notes: | Jörg Oechssler, Alex Roomets |
| Summary: | We describe an ambiguity hedging problem in Ellsberg experiments, where combinations of individually ambiguous bets eliminate aggregate ambiguity, and which may yield incorrect classifications of ambiguity averse subjects. We propose a new classification consistent with this hedging possibility. |
|---|---|
| Item Description: | Available online 4 December 2013 Gesehen am 08.10.2020 We thank Peter Duersch, Adam Dominiak, Jürgen Eichberger, Yoram Halevy, PJ Healy, Jean-Philippe Lefort, Christoph Kuzmics, Stefan Trautmann, and ananonymous referee, as well as seminar audiences in Heidelberg, Copenhagen, Bielefeld, and at the ESA meeting Santa Cruz, 2013 for very helpful comments |
| Physical Description: | Online Resource |
| ISSN: | 0165-1765 |
| DOI: | 10.1016/j.econlet.2013.11.029 |