Decision confidence in the Ellsberg experiment

Peter Duersch
Authors registered in the RePEc Author Service: Peter Dürsch

No 594, Working Papers from University of Heidelberg, Department of Economics

Abstract: Subjects are asked to report their confidence in their own decisions regarding the Ellsberg three color urn. Subjective confidence is measured via a 5 point Likert scale. Surprisingly, subjects are more confident in their answer for the more complicated two color question, compared to the simple one color question. This is robust across a wide range of experimental contexts.

Keywords: Ellsberg experiment; Confidence (search for similar items in EconPapers)
Date: 2015-06-18
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
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