Ellsberg Revisited: An Experimental Study

Yoram Halevy

Econometrica, 2007, vol. 75, issue 2, 503-536

Abstract: An extension to Ellsberg's experiment demonstrates that attitudes to ambiguity and compound objective lotteries are tightly associated. The sample is decomposed into three main groups: subjective expected utility subjects, who reduce compound objective lotteries and are ambiguity neutral, and two groups that exhibit different forms of association between preferences over compound lotteries and ambiguity, corresponding to alternative theoretical models that account for ambiguity averse or seeking behavior. Copyright The Econometric Society 2007.

Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (389)

Downloads: (external link)
http://hdl.handle.net/10.1111/j.1468-0262.2006.00755.x link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Ellsberg Revisited: an Experimental Study (2014)
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:ecm:emetrp:v:75:y:2007:i:2:p:503-536

Ordering information: This journal article can be ordered from
https://www.economet ... ordering-back-issues

Access Statistics for this article

Econometrica is currently edited by Guido Imbens

More articles in Econometrica from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().