The experiment was realised on 209 students in the Laboratory of experimental economics of Strasbourg (LEES) in November and December 2021. The purpose of the experiment was to study how people perceive uncertainty differently when the source of uncertainty is ambiguity of outcome or probability, or both. Brief description of the experimental design: The experiment is broken down into two tasks and completed with a socio-demographic questionnaire. In the first task (Section 3.1), the subjects make binary choices between two lotteries in various situations in terms of risk and ambiguity (Task 1-A: pairwise choice) and, in order to check the consistency of the subjects’ answers, we also ask them their willingness-to-pay (WTP) to go from one context to another on (Task 1-B: WTP task). In the second task (Section 3.2), we elicit their risk and ambiguity preferences.

The protocol used for the experiment is described in a specific document.