Generating Ambiguity in the Laboratory

This article develops a method for drawing samples from a distribution with no finite quantiles or moments. The method provides researchers with a way to give subjects the experience of ambiguity. In any experiment, learning the distribution from experience is impossible for the subjects, essentiall...

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Bibliographic Details
Published in:	Management science Vol. 57; no. 4; pp. 705 - 712
Main Authors:	Stecher, Jack, Shields, Timothy, Dickhaut, John
Format:	Journal Article
Language:	English
Published:	Hanover, MD INFORMS 01.04.2011 Institute for Operations Research and the Management Sciences
Series:	Management Science
Subjects:	Ambiguity Applied sciences Bid prices Computer software Decision analysis Decision making Decision theory. Utility theory Distribution Ellsberg Empirical research Entscheidung unter Unsicherheit Entscheidungstheorie Erwartungsbildung Exact sciences and technology Experience Experiments Inference from stochastic processes; time series analysis Knightian uncertainty Laboratories laboratory experiments Learning experiences Lotteries Management Management science Mathematical moments Mathematics Operational research and scientific management Operational research. Management science Pricing Probability and statistics Random variables Researcher subject relations Samples Sampling Sciences and techniques of general use Selling price Simulation Snakes and ladders Statistics Statistische Verteilung Studies Test theory Uncertainty United States Uncertain system Knightian uncertainty laboratory experiments Ellsberg Inference Probability learning Decision analysis Sampling Quantile theory Ambiguity
ISSN:	0025-1909, 1526-5501
Online Access:	Get full text
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