Comparative risk and ambiguity aversion: an experimental approach

Takashi Hayashi () and Ryoko Wada ()
Additional contact information
Takashi Hayashi: University of Glasgow
Ryoko Wada: Keiai University

No 1079, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: This paper experimentally studies comparative properties of risk aversion and ambiguity aversion in the way that the role of heterogeneity is allowed for. We examine correlation between the degrees of risk aversion and the degree of ambiguity aversion, how the latter changes across geometric properties of objective sets of possible probability distributions and how ambiguous information is generated.

Keywords: Ambiguity aversion; risk aversion; comparative definitions; choice experiments (search for similar items in EconPapers)
JEL-codes: C91 D81 (search for similar items in EconPapers)
Date: 2022-05
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-rmg and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.kier.kyoto-u.ac.jp/wp/wp-content/uploads/2022/06/DP1079.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kyo:wpaper:1079

Access Statistics for this paper

More papers in KIER Working Papers from Kyoto University, Institute of Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Makoto Watanabe ().