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Eliciting Ambiguity Aversion in Unknown and in Compound Lotteries: A KMM Experimental Approach
16 references·1 citing·32 second hop
Eliciting Ambiguity Aversion in Unknown and in Compound Lotteries: A KMM Experimental Approach (2012)Eliciting Ambiguity Aversion in Unknown a…Individual Decision Making (2020)Individual Decision Makingz-Tree: Zurich toolbox for ready-made economic experiments (2007)z-Tree: Zurich toolbox for re…Ellsberg Revisited: An Experimental Study (2007)Ellsberg Revisited: An Experi…A Smooth Model of Decision Making under Ambiguity (2005)A Smooth Model of Decision Ma…Differentiating ambiguity and ambiguity attitude (2004)Differentiating ambiguity and…Risk Aversion and Incentive Effects (2002)Risk Aversion and Incentive E…8. Individual Decision Making (1995)8. Individual Decision MakingRecent developments in modeling preferences: Uncertainty and ambiguity (1992)Recent developments in modeli…"Preference Reversal" and the Observability of Preferences by Experimental Methods (1987)"Preference Reversal" and the…Measuring Utility by a Single-Response Sequential Method (1964) (1974)Measuring Utility by a Single…The Role of Securities in the Optimal Allocation of Risk-bearing (1973)The Role of Securities in the…What Price Ambiguity? or the Role of Ambiguity in Decision-Making (1964)What Price Ambiguity? or the …The Role of Securities in the Optimal Allocation of Risk-bearing (1964)The Role of Securities in the…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Measuring utility by a single-response sequential method (1964)Measuring utility by a single…Risk, Ambiguity, and the Savage Axioms (1961)Risk, Ambiguity, and the Sava…Estimating uncertainty aversion using the source method in stylized tasks with varying degrees of uncertainty (2019)Estimating uncertainty aversi…Fuzzy sets (1965)Advances in prospect theory: Cumulative representation of uncertainty (1992)Chapter 18 A survey of behavioral finance (2003)Measuring Expectations (2004)“Economic man” in cross-cultural perspective: Behavioral experiments in 15 small-scale societies (2005)Theory of games and economic behavior (2019)Risk Aversion in the Small and in the Large (1976)Portfolio Selection with Parameter and Model Uncertainty: A Multi-Prior Approach (2006)Risk Aversion in the Laboratory (2008)Sensitivity analysis: A review of recent advances (2015)Prospect Theory: An Analysis of Decision under Risk (1979)Oxytocin increases trust in humans (2005)Gender Differences in Preferences (2009)INDIVIDUAL RISK ATTITUDES: MEASUREMENT, DETERMINANTS, AND BEHAVIORAL CONSEQUENCES (2011)The Framing of Decisions and the Psychology of Choice (1981)Prospect theory: An analysis of decision under risk (1988)Measuring Trust* (2000)Field Experiments (2004)An Intertemporal Capital Asset Pricing Model (1973)An intertemporal asset pricing model with stochastic consumption and investment opportunities (1979)Theory of Financial Decision Making. (1988)Are people conditionally cooperative? Evidence from a public goods experiment (2001)Altruistic punishment in humans (2002)Do Women Shy Away From Competition? Do Men Compete Too Much? (2007)Market Insurance, Self-Insurance, and Self-Protection (1992)Nonparametric Estimation of State‐Price Densities Implicit in Financial Asset Prices (1998)Reversals of preference between bids and choices in gambling decisions. (1971)On the Shape of the Probability Weighting Function (1999)Experimental Tests of the Endowment Effect and the Coase Theorem (2000)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
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References

  • 2007z-Tree: Zurich toolbox for ready-made economic experiments9,517 cited
  • 1961Risk, Ambiguity, and the Savage Axioms7,892 cited
  • 2002Risk Aversion and Incentive Effects5,973 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1964Measuring utility by a single-response sequential method2,656 cited
  • 2005A Smooth Model of Decision Making under Ambiguity1,889 cited
  • 1992Recent developments in modeling preferences: Uncertainty and ambiguity1,795 cited
  • 1974Measuring Utility by a Single-Response Sequential Method (1964)1,540 cited
  • 1973The Role of Securities in the Optimal Allocation of Risk-bearing1,179 cited
  • 1964The Role of Securities in the Optimal Allocation of Risk-bearing1,172 cited
  • 2020Individual Decision Making991 cited
  • 2004Differentiating ambiguity and ambiguity attitude915 cited
  • 2007Ellsberg Revisited: An Experimental Study614 cited
  • 19958. Individual Decision Making510 cited
  • 1964What Price Ambiguity? or the Role of Ambiguity in Decision-Making373 cited
  • 1987"Preference Reversal" and the Observability of Preferences by Experimental Methods

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  • 2019Estimating uncertainty aversion using the source method in stylized tasks with varying degrees of uncertainty2 cited