全球智库信息集成服务系统(G2TT): Ellsberg Re-revisited: An Experiment Disentangling Model Uncertainty and Risk Aversion

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Ellsberg Re-revisited: An Experiment Disentangling Model Uncertainty and Risk Aversion
	Loic Berger; Valentina Bosetti
发表日期	2016
出处	Mitigation, Innovation and Transformation Pathways
出版年	2016
语种	英语
摘要	The results of an experiment extending Ellsberg's setup demonstrate that attitudes towards ambiguity and compound uncertainty are closely related. However, this association is much stronger when the second layer of uncertainty is subjective than when it is objective. Provided that the compound probabilities are simple enough, we find that most subjects, consisting of both students and policy makers, (1) reduce compound objective probabilities, (2) do not reduce compound subjective probabilities, and (3) are ambiguity non-neutral. By decomposing ambiguity into risk and model uncertainty, and jointly eliciting the attitudes individuals manifest towards these two types of uncertainty, we characterize individuals' degree of ambiguity aversion. Our data provides evidence of decreasing absolute ambiguity aversion and constant relative ambiguity aversion. *** Suggested citation: Berger, L., V. Bosetti, (2016), 'Ellsberg Re-revisited: An Experiment Disentangling Model Uncertainty and Risk Aversion', Nota di Lavoro 37.2016, Milan, Italy: Fondazione Eni Enrico Mattei
特色分类	D81
关键词	Ambiguity Aversion Model Uncertainty Reduction of Compound Lotteries Non-expected Utility Subjective Probabilities Decreasing Absolute Ambiguity Aversion
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/ellsberg-re-revisited-an-experiment-disentangling-model-uncertainty-and-risk-aversion/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/118491
推荐引用方式 GB/T 7714	Loic Berger,Valentina Bosetti. Ellsberg Re-revisited: An Experiment Disentangling Model Uncertainty and Risk Aversion. 2016.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
2016521223421Nota_di（71KB）	智库出版物		限制开放	CC BY-NC-SA	浏览
2016521224394NDL2016（1318KB）	智库出版物		限制开放	CC BY-NC-SA	浏览