Attitudes toward uncertainty and randomization: an experimental study
Subjects are randomization-loving if they prefer random mixtures of two bets to each of the involved bets. Various approaches appeal to such preferences in order to explain uncertainty aversion. We examine the relationship between uncertainty and randomization attitude experimentally. Our data sugge...
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| Main Authors: | , |
|---|---|
| Format: | Article (Journal) |
| Language: | English |
| Published: |
28 June 2011
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| In: |
Economic theory
Year: 2011, Volume: 48, Issue: 2, Pages: 289-312 |
| ISSN: | 1432-0479 |
| DOI: | 10.1007/s00199-011-0649-z |
| Online Access: | Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1007/s00199-011-0649-z Verlag, lizenzpflichtig, Volltext: https://link.springer.com/article/10.1007/s00199-011-0649-z 
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| Author Notes: | Adam Dominiak, Wendelin Schnedler |
MARC
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| 520 | |a Subjects are randomization-loving if they prefer random mixtures of two bets to each of the involved bets. Various approaches appeal to such preferences in order to explain uncertainty aversion. We examine the relationship between uncertainty and randomization attitude experimentally. Our data suggest that they are not negatively associated: most uncertainty-averse subjects are randomization-neutral rather than loving. Surprisingly, a non-negligible number of uncertainty-averse subjects even seems to dislike randomization. | ||
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