Valuing A Risky Prospect Less Than Its Worst Outcome: Uncertainty Effect or Task Ambiguity?
Gneezy, List and Wu [Q. J. Econ. 121 (2006) 1283-1309] document that lotteries are often valued less than the lotteriesâ€™ worst outcomes. We show how to undo this result.
|Date of creation:||18 Jul 2007|
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- George Wu & John List & Uri Gneezy, 2006.
"The uncertainty effect: When a risky prospect is valued less than its worst possible outcome,"
Framed Field Experiments
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- Uri Gneezy & John A List & George Wu, 2006. "The Uncertainty Effect: When a Risky Prospect Is Valued Less Than Its Worst Possible Outcome," The Quarterly Journal of Economics, MIT Press, vol. 121(4), pages 1283-1309, November.
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