Morone, Andrea; Özdemir, Özlem - Max-Planck-Institut für Ökonomik <Jena> - Abteilung … - 2005
This paper aims to experimentally investigate how individual willingness to pay for a lottery is affected by using a new way of representing of probabilistic ambiguity. Thus we can see how individual valuation reacts to different degrees of ambiguity probability information provided to subjects....