Charness, Gary, Karni, Edi and Levin, Dan (2013) Ambiguity attitudes and social interactions : an experimental investigation. Journal of Risk and Uncertainty, Volume 46 (Number 1). pp. 1-25. doi:10.1007/s11166-012-9157-1 ISSN 0895-5646.

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Abstract

This paper reports the results of experiments testing prevalence of non-neutral ambiguity attitudes and how these attitudes change as a result of interpersonal interactions. To address the first question we conducted experiments involving individual choice between betting on ambiguous and unambiguous events of the subject’s choice. We found that a large majority of subjects display ambiguity neutral attitudes, many others display ambiguity incoherent attitudes, and few subjects display either ambiguity-averse attitudes or ambiguity-seeking attitudes. To address the second question we designed a new experiment with a built-in incentive to persuade. We found that interpersonal interactions without incentives to persuade have no effect on behavior. However, when incentives were introduced, the ambiguity neutral subjects were better able to persuade ambiguity seeking and ambiguity incoherent subjects to adopt ambiguity neutral choice behavior and, to a lesser extent, also ambiguity averse subjects.

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Journal of Risk and Uncertainty
Publisher:	Springer New York LLC
ISSN:	0895-5646
Official Date:	February 2013
Dates:	Date Event February 2013 Published
Volume:	Volume 46
Number:	Number 1
Page Range:	pp. 1-25
DOI:	10.1007/s11166-012-9157-1
Status:	Peer Reviewed
Publication Status:	Published

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