Attitudes toward uncertainty and randomization

• Verfasst von: Dominiak, Adam [VerfasserIn]
• Verfasst von: Schnedler, Wendelin [VerfasserIn]
• Titel: Attitudes toward uncertainty and randomization
• Titelzusatz: an experimental study
• Verf.angabe: Adam Dominiak, Wendelin Schnedler
• E-Jahr: 2011
• Jahr: 28 June 2011
• Umfang: 24 S.
• Fussnoten: Gesehen am 20.06.2022
• Titel Quelle: Enthalten in: Economic theory
• Ort Quelle: Berlin : Springer, 1991
• Jahr Quelle: 2011
• Band/Heft Quelle: 48(2011), 2, Seite 289-312
• ISSN Quelle: 1432-0479
• DOI: doi:10.1007/s00199-011-0649-z
• Datenträger: Online-Ressource
• Sprache: eng
• Sach-SW: Ambiguity
• Sach-SW: C91
• Sach-SW: D8
• Sach-SW: Non-expected utility models
• Sach-SW: Preference for randomization
• Sach-SW: Uncertainty aversion
• K10plus-PPN: 1807294064

Abstract

Subjects are randomization-loving if they prefer random mixtures of two bets to each of the involved bets. Various approaches appeal to such preferences in order to explain uncertainty aversion. We examine the relationship between uncertainty and randomization attitude experimentally. Our data suggest that they are not negatively associated: most uncertainty-averse subjects are randomization-neutral rather than loving. Surprisingly, a non-negligible number of uncertainty-averse subjects even seems to dislike randomization.