Ambiguity attitudes of individuals and groups in gain and loss domains

Aljoscha Minnich () and Andreas Lange ()
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Aljoscha Minnich: University of Hamburg, Department of Economics and Center for Earth System Research and Sustainability (CEN)
Andreas Lange: University of Hamburg, Department of Economics

Theory and Decision, 2025, vol. 98, issue 3, No 4, 373-403

Abstract: Abstract This study measures the differences in ambiguity attitudes of groups and individuals in the gain and loss domains. We elicit ambiguity aversion and ambiguity-generated insensitivity for natural temperature events. We do not find significant differences between individuals and groups in our main sample, yet higher ambiguity aversion and ambiguity-generated insensitivity result for groups in the gain domain when constraining the sample to groups and individuals with a better understanding of the experiment. The group effect on the ambiguity-generated insensitivity is sign-dependent.

Keywords: Ambiguity attitudes; Group decision making; Gain and loss domain (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s11238-024-10009-9

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