Randomization devices and the elicitation of ambiguity-averse preferences

DOI10.1016/J.JET.2015.05.017zbMATH Open1330.91086OpenAlexW616273424MaRDI QIDQ900418FDOQ900418

Authors: Sophie Bade 

Publication date: 22 December 2015

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2015.05.017

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zbMATH Keywords

ambiguity aversionhedgingexperimentsrandom incentive mechanisms

Mathematics Subject Classification ID

Decision theory (91B06) Auctions, bargaining, bidding and selling, and other market models (91B26)

Cites Work

• Maxmin expected utility with non-unique prior
• Subjective Probability and Expected Utility without Additivity
• A Smooth Model of Decision Making under Ambiguity
• Recent developments in modeling preferences: Uncertainty and ambiguity
• Recursive multiple-priors.
• Ellsberg Revisited: An Experimental Study
• Uncertainty averse preferences
• Estimating ambiguity aversion in a portfolio choice experiment
• "Preference Reversal" and the Observability of Preferences by Experimental Methods
• Stochastically independent randomization and uncertain aversion
• Unintended hedging in ambiguity experiments

Cited In (24)

• Estimating ambiguity aversion in a portfolio choice experiment
• Randomization and ambiguity aversion
• A test of (weak) certainty independence
• Belief hedges: Measuring ambiguity for all events and all models
• Testing constant absolute and relative ambiguity aversion
• Ellsberg games
• Ambiguous information and dilation: an experiment
• Social and strategic ambiguity versus betrayal aversion
• Zooming in on ambiguity attitudes
• Testing negative value of information and ambiguity aversion
• Hedging, ambiguity, and the reversal of order axiom
• Randomization and dynamic consistency
• Revealed preferences under uncertainty: incomplete preferences and preferences for randomization
• Attitudes toward uncertainty and randomization: an experimental study
• Ambiguity attitudes, framing, and consistency
• Reacting to ambiguous messages: an experimental analysis
• Randomization under ambiguity: efficiency and incentive compatibility
• Ellsberg meets Keynes at an urn
• Comparing ambiguous urns with different sizes
• Ambiguity, randomization and the timing of resolution of uncertainty
• A general theory of subjective mixtures
• Randomize at Your Own Risk: On the Observability of Ambiguity Aversion
• Abraham Wald's complete class theorem and Knightian uncertainty
• Mixed strategies and preference for randomization in games with ambiguity averse agents

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