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Verfasst von:Oechssler, Joerg [VerfasserIn]   i
 Rau, Hannes [VerfasserIn]   i
 Roomets, Alex [VerfasserIn]   i
Titel:Hedging and ambiguity
Verf.angabe:Jörg Oechssler, Hannes Rau and Alex Roomets
Verlagsort:Heidelberg
Verlag:University of Heidelberg, Department of Economics
E-Jahr:2016
Jahr:November 10, 2016
Umfang:1 Online-Ressource (16 Seiten)
Gesamttitel/Reihe:Discussion paper series / University of Heidelberg, Department of Economics ; no. 621
Abstract:We run an experiment that gives subjects the opportunity to hedge away ambiguity in an Ellsberg-style experiment. Subjects are asked to make two bets on the same draw from an ambiguous urn, with a coin flip deciding which bet is paid. By modifying the timing of the draw, coin flip, and decision, we are able to test the reversal-of-order axiom, particularly as it relates to the ability of the Random-Lottery Incentive System (RLIS) to prevent cross-task contamination in an ambiguity setting. We find that we cannot reject that the reversal-of-order axiom holds. This suggests that hedging could still be possible when carefully implementing RLIS. However, we also find low levels of ambiguity hedging across the board, suggesting the existence of the hedging possibility does not necessarily represent a common problem in ambiguity experiments.
DOI:doi:10.11588/heidok.00022160
URL:kostenfrei: Volltext: http://nbn-resolving.de/urn:nbn:de:bsz:16-heidok-221603
 kostenfrei: Volltext: http://hdl.handle.net/10419/162964
 kostenfrei: Volltext: http://nbn-resolving.de/urn:nbn:de:bsz:16-heidok-221603
 kostenfrei: Volltext: https://doi.org/10.11588/heidok.00022160
 kostenfrei: Volltext: http://www.ub.uni-heidelberg.de/archiv/22160
 kostenfrei: Volltext: http://archiv.ub.uni-heidelberg.de/volltextserver/22160/1/oechssler_rau_roomets_2016_dp621.pdf
 DOI: https://doi.org/10.11588/heidok.00022160
 10419/162964
URN:urn:nbn:de:bsz:16-heidok-221603
Datenträger:Online-Ressource
Sprache:eng
Sach-SW:Ellsberg paradox
 hedging
 reversal of order axiom
 experiment
Form-SW:Arbeitspapier
 Graue Literatur
K10plus-PPN:881618195
Verknüpfungen:→ Übergeordnete Aufnahme
 
 
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