Attitudes to Ambiguity in One-Shot Normal-Form Games: An Experimental Study
Based on an experiment in the lab, we classify behavior in one-shot normal-form games along three important dimensions. The first dimension, which is of main interest, is about whether subjects are ambiguity-loving, ambiguity-neutral, or ambiguity-averse. The second dimension is about whether subjects are risk-loving, risk-neutral, or risk-averse. The third dimension is about whether subjects are naive or strategic. Our main result is that, in our main treatment, 32/46/22 percent of subjects are classified as ambiguity-loving/ambiguity-neutral/ ambiguity-averse.
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|Date of creation:||Aug 2009|
|Date of revision:|
|Publication status:||Forthcoming in Games and Economic Behavior|
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Web page: http://www.business.vcu.edu/economics
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