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Part 1: Document Description
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Citation |
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Title: |
Ambiguity aversion is not universal [Dataset] |
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Identification Number: |
doi:10.11588/data/BU56YA |
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Distributor: |
heiDATA |
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Date of Distribution: |
2017-12-19 |
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Version: |
1 |
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Bibliographic Citation: |
Kocher, Martin G.; Lahno, Amrei Marie; Trautmann,Stefan T., 2017, "Ambiguity aversion is not universal [Dataset]", https://doi.org/10.11588/data/BU56YA, heiDATA, V1 |
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Citation |
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Title: |
Ambiguity aversion is not universal [Dataset] |
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Identification Number: |
doi:10.11588/data/BU56YA |
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Authoring Entity: |
Kocher, Martin G. (Institute for Advanced Studies, Vienna, Austria; University of Munich, Munich, Germany; University of Gothenburg, Gothenburg, Sweden ) |
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Lahno, Amrei Marie (University of Munich, Munich, Germany) |
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Trautmann,Stefan T. (Alfred-Weber-Institute of Economics, University of Heidelberg, Heidelberg, Germany) |
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Software used in Production: |
Excel |
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Software used in Production: |
Stata |
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Grant Number: |
TR 1405/1-1 |
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Distributor: |
heiDATA |
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Distributor: |
heiDATA: Heidelberg Research Data Repository |
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Access Authority: |
Trautmann,Stefan T. |
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Date of Deposit: |
2017-12-13 |
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Holdings Information: |
https://doi.org/10.11588/data/BU56YA |
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Study Scope |
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Keywords: |
Social Sciences, Ambiguity aversion, Decision under uncertainty, Ellsberg experiments |
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Topic Classification: |
C91, D81 |
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Abstract: |
Assuming universal ambiguity aversion, an extensive theoretical literature studies how ambiguity can account for market anomalies from the perspective of expected utility-based theories. We provide a systematic experimental assessment of ambiguity attitudes in different likelihood ranges, and in the gain domain, the loss domain and with mixed outcomes. We draw on a unified framework to elicit preferences across these domains. We replicate the usual finding of ambiguity aversion for moderate likelihood gains. However, when introducing losses or lower likelihoods, we observe predominantly ambiguity neutrality or seeking, rejecting universal ambiguity aversion. |
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Methodology and Processing |
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Sources Statement |
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Data Access |
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Other Study Description Materials |
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Related Publications |
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Citation |
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Title: |
Martin G. Kocher, Amrei Marie Lahno, Stefan T. Trautmann, Ambiguity aversion is not universal, European Economic Review, 2018, Volume 101, Pages 268-283. |
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Identification Number: |
10.1016/j.euroecorev.2017.09.016 |
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Bibliographic Citation: |
Martin G. Kocher, Amrei Marie Lahno, Stefan T. Trautmann, Ambiguity aversion is not universal, European Economic Review, 2018, Volume 101, Pages 268-283. |
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Label: |
adjusted_names_types.zip |
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Text: |
Raw files with adjusted file extensions (csv) and file types (xlsx) for long term preservation. |
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Notes: |
application/zip |
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Label: |
Raw_data.zip |
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Text: |
Original Raw data |
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Notes: |
application/zip |
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Label: |
Readme.pdf |
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Notes: |
application/pdf |
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Label: |
Stata_do_files.zip |
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Text: |
Original stat do files |
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Notes: |
application/zip |