Attitudes to ambiguity in one-shot normal-form games: An experimental study

Asen Ivanov ()

Games and Economic Behavior, 2011, vol. 71, issue 2, 366-394

Abstract: 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.

Keywords: Games; Experiments; Beliefs; Ambiguity; Risk (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (44)

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