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Ambiguous Solicitation: Ambiguous Prescription

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  • ROBERT GAZZALE
  • JULIAN JAMISON
  • ALEXANDER KARLAN
  • DEAN KARLAN

Abstract

We conduct a two-phase laboratory experiment, separated by several weeks. In the first phase, we conduct urn games intended to measure ambiguity aversion on a representative population of undergraduate students. In the second phase, we invite the students back with four different solicitation treatments, varying in the ambiguity of information regarding the task and the payout of the laboratory experiment. We find that those who return do not differ from the overall pool with respect to their ambiguity version. However, no solicitation treatment generates a representative sample. The ambiguous task treatment drives away the ambiguity averse disproportionally, and the detailed task treatment draws in the ambiguity averse disproportionally.

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File URL: http://hdl.handle.net/10.1111/j.1465-7295.2011.00383.x
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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 51 (2013)
Issue (Month): 1 (01)
Pages: 1002-1011

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Handle: RePEc:bla:ecinqu:v:51:y:2013:i:1:p:1002-1011

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Cited by:
  1. Oechssler, Jörg & Roomets, Alex, 2014. "A Test of Mechanical Ambiguity," Working Papers 0555, University of Heidelberg, Department of Economics.
  2. Cai, Jing & Song, Changcheng, 2013. "Do Hypothetical Experiences Affect Real Financial Decisions? Evidence from Insurance Take-up," MPRA Paper 46862, University Library of Munich, Germany.
  3. David H. Herberich & John A. List, 2012. "Digging into Background Risk: Experiments with Farmers and Students," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(2), pages 457-463.

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