Kocher, Martin G.; Lahno, Amrei Marie; Trautmann, Stefan T. - 2015
An extensive literature has studied ambiguity aversion in economic decision making, and how ambiguity aversion can … more than 500 participants and find that ambiguity aversion is the exception, not the rule. We replicate the usual finding … of ambiguity aversion for moderate likelihood gains. However, when introducing losses or lower likelihoods, we observe …