Dundee Discussion Papers in Economics 131: Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis

Paul Dolan, Martin Jones

    Research output: Working paper/PreprintDiscussion paper

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    Abstract

    Many theories have been put forward to explain attitudes towards ambiguity. This paper reports on an experiment designed to test for the existence of Comparative Ignorance when it is tested over different levels of probabilities. A total of 93 subjects valued a series of gambles, one of which was played out for real. The results do not lend support to the theory, although the relationship between risk and ambiguity does appear to correspond with other theories and previous empirical work.
    Original languageEnglish
    PublisherUniversity of Dundee
    Publication statusPublished - 2002

    Publication series

    NameDundee Discussion Papers in Economics
    PublisherUniversity of Dundee
    No.131
    ISSN (Print)1473-236X

    Keywords

    • Ambiguity
    • Comparative ignorance

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