Factors affecting risk aversion and ambiguity aversion 116
Gender Differences in Risk Aversion and Ambiguity Aversion
... more risk averse than men (see ...to ambiguity aversion, Schubert et ...more ambiguity averse than men in an investment context but not in an insurance ...more risk averse and ...
19
Gender Differences in Risk Aversion and Ambiguity Aversion
... more risk averse than men (see ...to ambiguity aversion, Schubert et ...more ambiguity averse than men in an investment context but not in an insurance ...more risk averse and ...
18
Value-at-risk under ambiguity aversion
... by ambiguity on the calculation of the most popular risk ...additional risk factor is expected to in- crease the estimated value of a risk measure, contrasting outcomes are possible when ...
13
Gender Differences in Risk Aversion and Ambiguity
... more risk averse than men (see ...to ambiguity aversion, Schubert et ...more ambiguity averse than men in an investment context but not in an insurance ...more risk averse and ...
18
Preference for Randomization - Ambiguity Aversion and Inequality Aversion
... with δ = 1 show that .5a ⊕ .5b ≻ c for any small positive number ε, so strategy c will not be employed by player 1 in Game II. 5.2 EAP Piecewise–linear Preferences in Games In this section, we show that EAP ...
52
Preference for Randomization: Ambiguity Aversion and Inequality Aversion
... of risk over roles is ...under risk over roles. However, Proposition 4 shows that risk over roles induces subjects with EAP Piecewise preferences to choose the efficient allocations, even if they do ...
54
Ambiguity Aversion and Trade
... The reader may wonder whether acts defined in terms of limiting fre- quencies have any practical relevance in a decision making context. Our result that f ∼ f ? says that the decision maker decomposes the uncertainty he ...
58
The Case for Limited Auditor Liability - The Effects of Liability Size on Risk Aversion and Ambiguity Aversion
... In terms of methodology, we differ from earlier experiments on risk and ambiguity aversion by introducing real losses. Real losses are a distinct feature to ensure that our setting resembles the ...
38
Decreasing Aversion under Ambiguity
... decreasing aversion, by examining two different decision problems when the decision maker is not ...decreasing aversion by the property that the set of desirable uncertain prospects expands when wealth ...
29
Preferences with changing ambiguity aversion
... absolute ambiguity aversion, then it must display constant absolute risk ...absolute ambiguity aversion and decreasing absolute risk ...maker’s risk attitude and captures ...
67
Ambiguity Aversion and Absence of Trade
... are risk neutral. Note that the assumption that individuals are risk neutral may be reasonable in some situations, espe- cially when the stakes involved are small, which is sometimes the case in betting ...
33
Portfolio Optimization and Ambiguity Aversion
... When comparing different factor models, Chan et al. (1999) show that no clear favorite specification emerges. A simple single factor model like the CAPM can’t be es- sentially outperformed by a complex multi-dimensional ...
34
Testing axiomatizations of ambiguity aversion
... “If ambiguity aversion somehow involves ‘pessimism,’ mightn’t an ambiguity averter have a strict preference for [Act] H over [Act] L, just as a risk averter might prefer bearing risk ...
43
Manipulating reliance on intuition reduces risk and ambiguity aversion
... 3 It is worth noting that, while the authors of this last study claim to find evidence that more rationality is associated with less ambiguity aversion, and more intuitive processes with more ...
24
The role of intuition and reasoning in driving aversion to risk and ambiguity
... “Intuitive” is a dummy that takes the value of one if the average time it took an individual to decide on which color to bet on in the risky urn and in the ambiguous urn as described in the text is in the bottom 25 th ...
51
The Role of Intuition and Reasoning in Driving Aversion to Risk and Ambiguity
... any risk- or ambiguity-related questions were ...each risk and ambiguity elicitation methods were presented to ...each risk and ambiguity elicitation methods were presented to ...
52
Preference Reversals to Explain Ambiguity Aversion
... overestimate ambiguity aversion. Our finding that WTP-ambiguity phenomena and choice-ambiguity phenomena are driven by different factors and exhibit different characteristics, has many ...
31
The Incentive To Trade Under Ambiguity Aversion
... under ambiguity aversion Abstract This paper examines the behavior of an exporting firm that sells in both the home coun- try and a foreign ...rate risk. Ambiguity is modeled by a second-order ...
18
The banking firm under ambiguity aversion
... take risk in the presence than in the absence of ...ambiguity aversion. Given that the competitive bank’s smooth ambiguity preferences exhibit non-increasing absolute ambiguity ...
19
Ambiguity aversion as a reason to choose tournaments
... The following factors could help to understand this finding. First, note that in the second part of our experiment, the choices of the agents had less strong financial consequences for them. Hence, the second part ...
16