We study a commons problem under uncertainty, where individual actions affect the risk of a future damage event. We … show that for risk-averse agents, an extra risk on the amount of the damage induces more precautionary actions in Nash … equilibrium. Similarly, for prudent agents an extra risk in all states of the world induces more precautionary actions in Nash …

uncertainty, we feel uncertain about the consequences of our actions. Participants played a repeated game in which decisions were … made under various types of uncertainty (either no uncertainty, uncertainty about the present consequences of behaviors …, uncertainty about the future consequences of behavior, or both types of uncertainty). The game required prudent decision making …