Resolving Ambiguity as a Public Good: Experimental Evidence from Guyana

Kaywana Raeburn, Jim Engle-Warnick and Sonia Laszlo

CIRANO Working Papers from CIRANO

Abstract: We present a decision-making experiment, conducted in the field, that explores the extent to which reduction of ambiguity can be a public good. We find evidence that people with a preference to avoid ambiguity contribute to the public good. We find that risk averse people free-ride. Cheap talk erases the predictability of who free rides, but does not affect the overall public good provision, either in a positive or a negative direction. Finally, we find that people draw appropriate inference from the evidence that the public good provides. We relate our findings to the issue of new technology adoption.

Keywords: Ambiguity; Public Good; Technology Choice (search for similar items in EconPapers)
JEL-codes: C90 O33 Q16 (search for similar items in EconPapers)
Date: 2016-08-24
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
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https://cirano.qc.ca/files/publications/2016s-41.pdf

Related works:
Journal Article: Resolving ambiguity as a public good: experimental evidence from Guyana (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:cir:cirwor:2016s-41

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