processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …

We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the …

experiments. In the first experiment, we elicit the value and probability weighting functions both under known and unknown … probability transformations rather than utility transformations. In the second experiment, we examine the effects of an increase …

The results of an experiment extending Ellsberg's setup demonstrate that attitudes towards ambiguity and compound … uncertainty are closely related. However, this association is much stronger when the second layer of uncertainty is subjective … probabilities, and (3) are ambiguity non-neutral. By decomposing ambiguity into risk and model uncertainty, and jointly eliciting …

We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg’s three-color urn. The …

We study in an experiment whether humans prefer to depend on decisions of other humans (social uncertainty) or states … other humans. This is the first experiment that studies social uncertainty that does not derive from a strategic situation … of nature (environmental uncertainty). In the social uncertainty treatments subjects depend only on past decisions of …

unknown probabilities, i.e., they are ambiguity averse. In an experiment, we examine subjects’ choices when there is an …