Testing dynamic consistency and consequentialism under ambiguity

Accounting for ambiguity aversion in dynamic decisions generally implies that either dynamic consistency or consequentialism must be given up. To gain insight into which of these principles better describes people's preferences we tested them using a variation of Ellsberg's three-color urn...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Hauptverfasser: Bleichrodt, Han (VerfasserIn) , Eichberger, Jürgen (VerfasserIn) , Grant, Simon (VerfasserIn) , Kelsey, David (VerfasserIn) , Li, Chen (VerfasserIn)
Dokumenttyp: Buch/Monographie Arbeitspapier
Sprache:Englisch
Veröffentlicht: Nottingham CEDEX, Centre for Decision Research & Experimental Economics November 2020
Schriftenreihe:CeDEx discussion paper series no. 2020, 17
In: CEDEX discussion paper series (no. 2020, 17)

Schlagworte:
Online-Zugang:Verlag, kostenfrei: https://www.nottingham.ac.uk/cedex/documents/papers/cedex-discussion-paper-2020-17.pdf
Verlag, kostenfrei: https://www.nottingham.ac.uk/cedex/news/papers/2020-17.aspx
Resolving-System, kostenfrei: http://hdl.handle.net/10419/248289
Volltext
Verfasserangaben:Han Bleichrodt, Jurgen Eichberger, Simon Grant, David Kelsey and Chen Li

MARC

LEADER 00000cam a2200000 c 4500
001 1742095194
003 DE-627
005 20250805104349.0
007 cr uuu---uuuuu
008 201204s2020 xxk|||||o 00| ||eng c
024 7 |a 10419/248289  |2 hdl 
035 |a (DE-627)1742095194 
035 |a (DE-599)KXP1742095194 
035 |a (OCoLC)1530526719 
040 |a DE-627  |b ger  |c DE-627  |e rda 
041 |a eng 
044 |c XA-GB 
084 |a 17  |2 sdnb 
084 |a C72  |a D81  |2 jelc 
100 1 |a Bleichrodt, Han  |d 1965-  |e VerfasserIn  |0 (DE-588)171025830  |0 (DE-627)061185108  |0 (DE-576)131853465  |4 aut 
245 1 0 |a Testing dynamic consistency and consequentialism under ambiguity  |c Han Bleichrodt, Jurgen Eichberger, Simon Grant, David Kelsey and Chen Li 
264 1 |a Nottingham  |b CEDEX, Centre for Decision Research & Experimental Economics  |c November 2020 
300 |a 1 Online-Ressource (circa 29 Seiten)  |b Illustrationen 
336 |a Text  |b txt  |2 rdacontent 
337 |a Computermedien  |b c  |2 rdamedia 
338 |a Online-Ressource  |b cr  |2 rdacarrier 
490 1 |a CeDEx discussion paper series  |v no. 2020, 17 
520 |a Accounting for ambiguity aversion in dynamic decisions generally implies that either dynamic consistency or consequentialism must be given up. To gain insight into which of these principles better describes people's preferences we tested them using a variation of Ellsberg's three-color urn experiment. Subjects were asked to make a choice both before and after they received a signal. We found that most ambiguity neutral subjects satisfied both dynamic consistency and consequentialism and behaved consistent with subjective expected utility with Bayesian updating. The majority of ambiguity averse subjects violated at least one of the principles and they were more likely to satisfy consequentialism than dynamic consistency. 
650 4 |a ambiguity  |7 (dpeaa)DE-206 
650 4 |a three-color Ellsberg paradox  |7 (dpeaa)DE-206 
650 4 |a consequentialism  |7 (dpeaa)DE-206 
650 4 |a dynamic consistency  |7 (dpeaa)DE-206 
655 4 |0 (DE-206)34  |a Graue Literatur  |5 DE-206 
700 1 |a Eichberger, Jürgen  |d 1952-  |e VerfasserIn  |0 (DE-588)129508292  |0 (DE-627)470648538  |0 (DE-576)160838681  |4 aut 
700 1 |a Grant, Simon  |e VerfasserIn  |0 (DE-588)171019407  |0 (DE-627)061178039  |0 (DE-576)131847929  |4 aut 
700 1 |a Kelsey, David  |e VerfasserIn  |0 (DE-588)17025917X  |0 (DE-627)060321148  |0 (DE-576)131159569  |4 aut 
700 1 |a Li, Chen  |e VerfasserIn  |0 (DE-588)1056883774  |0 (DE-627)79417535X  |0 (DE-576)412864142  |4 aut 
810 2 |a University of Nottingham  |b Centre for Decision Research and Experimental Economics  |t CEDEX discussion paper series  |v no. 2020, 17  |9 2020,17  |w (DE-627)361845138  |w (DE-576)281222428  |w (DE-600)2105636-5  |x 1749-3293  |7 am 
856 4 0 |u https://www.nottingham.ac.uk/cedex/documents/papers/cedex-discussion-paper-2020-17.pdf  |x Verlag  |z kostenfrei 
856 4 0 |u https://www.nottingham.ac.uk/cedex/news/papers/2020-17.aspx  |x Verlag  |z kostenfrei 
856 4 0 |u http://hdl.handle.net/10419/248289  |x Resolving-System  |z kostenfrei 
951 |a BO 
992 |a 20250805 
993 |a WorkingPaper 
994 |a 2021 
998 |g 129508292  |a Eichberger, Jürgen  |m 129508292:Eichberger, Jürgen  |d 180000  |d 181000  |e 180000PE129508292  |e 181000PE129508292  |k 0/180000/  |k 1/180000/181000/  |p 2 
999 |a KXP-PPN1742095194  |e 4753195198 
BIB |a Y 
JSO |a {"id":{"hdl":["10419/248289"],"eki":["1742095194"]},"recId":"1742095194","name":{"displayForm":["Han Bleichrodt, Jurgen Eichberger, Simon Grant, David Kelsey and Chen Li"]},"physDesc":[{"extent":"1 Online-Ressource (circa 29 Seiten)","noteIll":"Illustrationen"}],"language":["eng"],"relMultPart":[{"disp":"CeDEx discussion paper series","title":[{"title_sort":"CEDEX discussion paper series","title":"CEDEX discussion paper series"}],"origin":[{"publisher":"[Verlag nicht ermittelbar]","dateIssuedKey":"1999","publisherPlace":"Nottingham","dateIssuedDisp":"1999-"}],"titleAlt":[{"title":"Discussion paper series"},{"title":"Discussion paper"},{"title":"CEDEX working papers"}],"type":{"bibl":"serial","media":"Online-Ressource"},"part":{"number":["no. 2020, 17"],"number_sort":["2020,17"]},"pubHistory":["1999 -"],"id":{"issn":["1749-3293"],"eki":["361845138"],"zdb":["2105636-5"],"hdl":["10419/49651"]},"dispAlt":"University of Nottingham / Centre for Decision Research and Experimental Economics: CEDEX discussion paper series","corporate":[{"display":"University of Nottingham","role":"aut"}],"note":["Gesehen am 10.11.10"],"language":["eng"],"physDesc":[{"extent":"Online-Ressource"}],"recId":"361845138"}],"title":[{"title_sort":"Testing dynamic consistency and consequentialism under ambiguity","title":"Testing dynamic consistency and consequentialism under ambiguity"}],"origin":[{"publisherPlace":"Nottingham","dateIssuedDisp":"November 2020","dateIssuedKey":"2020","publisher":"CEDEX, Centre for Decision Research & Experimental Economics"}],"type":{"media":"Online-Ressource","bibl":"book"},"person":[{"display":"Bleichrodt, Han","family":"Bleichrodt","given":"Han","role":"aut"},{"given":"Jürgen","role":"aut","family":"Eichberger","display":"Eichberger, Jürgen"},{"display":"Grant, Simon","family":"Grant","role":"aut","given":"Simon"},{"given":"David","role":"aut","family":"Kelsey","display":"Kelsey, David"},{"family":"Li","display":"Li, Chen","given":"Chen","role":"aut"}]} 
SRT |a BLEICHRODTTESTINGDYN2020