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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 language | English |
|---|---|
| Pages (from-to) | 281-301 |
| Journal | Scottish Journal of Political Economy |
| Volume | 51 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - Aug 2004 |
Keywords
- Ambiguity
- Comparative ignorance
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Dive into the research topics of 'Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis'. Together they form a unique fingerprint.Research output
- 5 Citations
- 1 Discussion paper
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Dundee Discussion Papers in Economics 131: Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis
Dolan, P. & Jones, M., 2002, University of Dundee, (Dundee Discussion Papers in Economics; no. 131).Research output: Working paper/Preprint › Discussion paper
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