Recursive expected utility and the separation of attitudes towards risk and ambiguity: an experimental study

We use the multiple price list method and a recursive expected utility theory of smooth ambiguity to separate out attitude towards risk from that towards ambiguity. Based on this separation, we investigate if there are differences in agent behaviour under uncertainty over gain amounts vis-a-vis unce...

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Veröffentlicht in:	Theory and decision Jg. 66; H. 3; S. 199 - 228
Hauptverfasser:	Chakravarty, Sujoy, Roy, Jaideep
Format:	Journal Article
Sprache:	Englisch
Veröffentlicht:	Boston Springer US 01.03.2009 Springer Springer Nature B.V
Schlagworte:	Agency Ambiguity Applied sciences Attitudes Behavioral/Experimental Economics Decision theory Decision theory. Utility theory Design Economic behaviour Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Exact sciences and technology Expected utility Experiments Finance Game Theory Insurance Management Mathematical analysis Operational research and scientific management Operational research. Management science Operations Research/Decision Theory Probability Probability distribution Prospects Recursion Recursive algorithms Reflection Risk Risk theory. Actuarial science Social and Behav. Sciences Social sciences Statistics for Business Studies Uncertainty Utility theory Recursive expected utility Risk C44 C91 C9 Ambiguity Correlation Attitude Risk analysis Risk aversion Uncertain system Utility theory Risk factor Recursive method Aggregate Expected utility
ISSN:	0040-5833, 1573-7187
Online-Zugang:	Volltext
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