, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would … request more information. Moreover, we investigate whether the relation between attitudes towards risk and ambiguity is linked …

We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the … specification includes two parameters: one for ambiguity attitudes and another for risk attitudes. We also estimate a three … of ambiguity aversion, one kinked and one smooth, that encompass many of the theoretical models in the literature. Each …

The results of an experiment extending Ellsberg's setup demonstrate that attitudes towards ambiguity and compound … probabilities, and (3) are ambiguity non-neutral. By decomposing ambiguity into risk and model uncertainty, and jointly eliciting … ambiguity aversion. Our data provides evidence of decreasing absolute ambiguity aversion and constant relative ambiguity …

attitudes towards ambiguity and compound risk which suggests that compound risk aversion may provide a psychological foundation … for ambiguity aversion. However, compound risk aversion and ambiguity aversion may also be independent psychological …’s ability to reduce compound to simple risks, and analyzing how this affects their compound risk and ambiguity attitudes in …