A dynamic Ellsberg urn experiment [Dataset]

DOI

Abstract Many theories of updating under ambiguity assume either dynamic consistency or consequentialism to underpin behaviorally the link between conditional and unconditional preferences. To test the descriptive validity of these rationality concepts, we conduct a dynamic extension of Ellsbergʼs 3-color experiment. We find that more subjects act in line with consequentialism than with dynamic consistency and that this result is even stronger among ambiguity av erse subjects. Highlights We experimentally test consequentialism versus dynamic consistency. The design is a dynamic extension of the 3-color Ellsberg urn. More subjects violate dynamic consistency than consequentialism. Violating subjects (for both axioms) are less confident in their responses.

Identifier
DOI https://doi.org/10.11588/data/10005
Metadata Access https://heidata.uni-heidelberg.de/oai?verb=GetRecord&metadataPrefix=oai_datacite&identifier=doi:10.11588/data/10005
Provenance
Creator Dominiak, Adam; Dürsch, Peter; Lefort, Jean-Philippe
Publisher heiDATA
Contributor Dürsch, Peter; Dominiak, Adam; Lefort, Jean-Philippe; HeiDATA: Heidelberg Research Data Repository
Publication Year 2014
Rights info:eu-repo/semantics/closedAccess
OpenAccess false
Contact Dürsch, Peter (Alfred-Weber-Institute of Economics)
Representation
Resource Type Dataset
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Version 2.1
Discipline Agriculture, Forestry, Horticulture, Aquaculture; Agriculture, Forestry, Horticulture, Aquaculture and Veterinary Medicine; Design; Fine Arts, Music, Theatre and Media Studies; Humanities; Life Sciences; Social Sciences; Social and Behavioural Sciences; Soil Sciences