Attitudes toward uncertainty among the poor: an experiment in rural Ethiopia
AbstractWe investigate risk and ambiguity attitudes among Ethiopian farmers in one of the poorest regions of the world. Strong risk aversion and ambiguity aversion were found with the Ethiopian farmers. We compared their attitudes to those of a Western university student sample elicited by the same decision task. Ambiguity aversion was similar for farmers and students, but farmers were more risk averse. Our results show that ambiguity aversion is not restricted to Western student populations, and that studies of agricultural decisions may benefit from explicitly considering ambiguity attitudes. Copyright The Author(s) 2012
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Bibliographic InfoArticle provided by Springer in its journal Theory and Decision.
Volume (Year): 73 (2012)
Issue (Month): 3 (September)
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Web page: http://www.springerlink.com/link.asp?id=100341
Risk attitudes; Ambiguity attitudes; Poverty; Agriculture; D81; C93; O12;
Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
- O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
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