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https://doi.org/10.1007/s11238-016-9585-5
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Stake effects on ambiguity attitudes for gains and losses
[Zeitschriftenartikel]
Abstract We test the effect of stake size on ambiguity attitudes. Compared to a baseline condition, we find subjects to be more ambiguity seeking for small-probability gains and large-probability losses under high stakes. They are also more ambiguity averse for large-probability gains and small-probability l... mehr
We test the effect of stake size on ambiguity attitudes. Compared to a baseline condition, we find subjects to be more ambiguity seeking for small-probability gains and large-probability losses under high stakes. They are also more ambiguity averse for large-probability gains and small-probability losses. We trace these effects back to stake effects on decisions under risk (known probabilities) and uncertainty (unknown probabilities). For risk, we replicate previous findings. For uncertainty, we find an increase in probabilistic insensitivity under high stakes that is driven by increased uncertainty aversion for large-probability gains and for small-probability losses.... weniger
Klassifikation
Allgemeines, spezielle Theorien und "Schulen", Methoden, Entwicklung und Geschichte der Wirtschaftswissenschaften
Freie Schlagwörter
Ambiguity aversion; Monetary stakes; Risk attitudes
Sprache Dokument
Englisch
Publikationsjahr
2017
Seitenangabe
S. 19-35
Zeitschriftentitel
Theory and Decision, 83 (2017) 1
ISSN
1573-7187
Status
Veröffentlichungsversion; begutachtet (peer reviewed)