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

Paul Dolan, Martin Jones

    Research output: Contribution to journalArticle

    4 Citations (Scopus)

    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
    Pages (from-to)281-301
    JournalScottish Journal of Political Economy
    Volume51
    Issue number3
    DOIs
    Publication statusPublished - Aug 2004

    Keywords

    • Ambiguity
    • Comparative ignorance

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  • Research Output

    • 4 Citations
    • 1 Discussion paper

    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 paperDiscussion paper

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