Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis

Paul Dolan, Martin Jones

    Research output: Working paperDiscussion 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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  • Research Output

    Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis

    Dolan, P. & Jones, M., Aug 2004, In : Scottish Journal of Political Economy. 51, 3, p. 281-301

    Research output: Contribution to journalArticle

  • 4 Citations (Scopus)

    Cite this

    Dolan, P., & Jones, M. (2002). Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis. (Dundee Discussion Papers in Economics; No. 131). University of Dundee.