Ambiguity aversion is not universal [Dataset]doi:10.11588/data/BU56YAheiDATA2017-12-191Kocher, Martin G.; Lahno, Amrei Marie; Trautmann,Stefan T., 2017, "Ambiguity aversion is not universal [Dataset]", https://doi.org/10.11588/data/BU56YA, heiDATA, V1Ambiguity aversion is not universal [Dataset]doi:10.11588/data/BU56YAKocher, Martin G.Lahno, Amrei MarieTrautmann,Stefan T.ExcelStataTR 1405/1-1heiDATAheiDATA: Heidelberg Research Data Repository Trautmann,Stefan T.2017-12-13Social SciencesAmbiguity aversionDecision under uncertaintyEllsberg experimentsC91D81Assuming 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.Martin G. Kocher, Amrei Marie Lahno, Stefan T. Trautmann, Ambiguity aversion is not universal, European Economic Review, 2018, Volume 101, Pages 268-283.10.1016/j.euroecorev.2017.09.016Martin G. Kocher, Amrei Marie Lahno, Stefan T. Trautmann, Ambiguity aversion is not universal, European Economic Review, 2018, Volume 101, Pages 268-283.adjusted_names_types.zipRaw files with adjusted file extensions (csv) and file types (xlsx) for long term preservation.application/zipRaw_data.zipOriginal Raw dataapplication/zipReadme.pdfapplication/pdfStata_do_files.zipOriginal stat do filesapplication/zip