Ambiguity in Human-Based vs. Automateddispute Resolution Procedures

We propose an analysis of behavioral factors (attitudes toward risk, ambiguity, and reduction of compound lotteries) as choice determinants of a smart contract vs. an ambiguous expert-based one in the context of car insurance. In a laboratory experiment, we develop a toy model representing this choice and complement it with a questionnaire to collect data concerning participants’ demographics, personality traits, and car use experience. Our results can inform policies aimed at improving the understanding of smart contracts in the case of car insurance services. In particular, they advocate for designing ad hoc policies depending on the user’s experience with cars