How do subjects view multiple sources of ambiguity? [Dataset]

DOI

As illustrated by the famous Ellsberg paradox, many subjects prefer to bet on events with known rather than with unknown probabilities, i.e., they are ambiguity averse. In an experiment, we examine subjects’ choices when there is an additional source of ambiguity, namely, when they do not know how much money they can win. Using a standard assumption on the joint set of priors, we show that ambiguity-averse subjects should continue to strictly prefer the urn with known probabilities. In contrast, our results show that many subjects no longer exhibit such a strict preference.

Identifier
DOI https://doi.org/10.11588/data/10023
Related Identifier https://doi.org/10.1007/s11238-014-9428-1
Metadata Access https://heidata.uni-heidelberg.de/oai?verb=GetRecord&metadataPrefix=oai_datacite&identifier=doi:10.11588/data/10023
Provenance
Creator Eichberger, Jürgen; Oechssler, Jörg; Schnedler, Wendelin
Publisher heiDATA
Contributor Oechssler, Jörg; Eichberger, Jürgen; Schnedler, Wendelin; HeiDATA: Heidelberg Research Data Repository
Publication Year 2014
Rights info:eu-repo/semantics/closedAccess
OpenAccess false
Contact Oechssler, Jörg (Alfred-Weber-Institute of Economics)
Representation
Resource Type Dataset
Format text/tab-separated-values; application/octet-stream; application/x-gzip
Size 15652; 39612; 197836
Version 1.1
Discipline Agriculture, Forestry, Horticulture, Aquaculture; Agriculture, Forestry, Horticulture, Aquaculture and Veterinary Medicine; Life Sciences; Social Sciences; Social and Behavioural Sciences; Soil Sciences
Spatial Coverage Heidelberg, Germany