Ambiguity aversion is not universal [Dataset]

DOI

Assuming universal ambiguity aversion, an extensive theoretical literature studies how ambiguity can account for market anomalies from the perspective of expected utility-based theories. We provide a systematic experimental assessment of ambiguity attitudes in different likelihood ranges, and in the gain domain, the loss domain and with mixed outcomes. We draw on a unified framework to elicit preferences across these domains. We replicate the usual finding of ambiguity aversion for moderate likelihood gains. However, when introducing losses or lower likelihoods, we observe predominantly ambiguity neutrality or seeking, rejecting universal ambiguity aversion.

Identifier
DOI https://doi.org/10.11588/data/BU56YA
Related Identifier https://doi.org/10.1016/j.euroecorev.2017.09.016
Metadata Access https://heidata.uni-heidelberg.de/oai?verb=GetRecord&metadataPrefix=oai_datacite&identifier=doi:10.11588/data/BU56YA
Provenance
Creator Kocher, Martin G.; Lahno, Amrei Marie; Trautmann, Stefan T.
Publisher heiDATA
Contributor Trautmann,Stefan T.; heiDATA: Heidelberg Research Data Repository
Publication Year 2017
Funding Reference DFG TR 1405/1-1
Rights info:eu-repo/semantics/openAccess
OpenAccess true
Contact Trautmann,Stefan T. (Alfred-Weber-Institute of Economics, University of Heidelberg, Heidelberg, Germany)
Representation
Resource Type Dataset
Format application/zip; application/pdf
Size 904315; 734960; 73892; 9880
Version 1.0
Discipline Agriculture, Forestry, Horticulture, Aquaculture; Agriculture, Forestry, Horticulture, Aquaculture and Veterinary Medicine; Life Sciences; Social Sciences; Social and Behavioural Sciences; Soil Sciences