30
Set
14

Collective choices under ambiguity

See on Scoop.itBounded Rationality and Beyond

Abstract: We investigate experimentally whether collective choice matters for individual attitudes to ambiguity. We consider a two-urn Ellsberg experiment: one urn offers a 45% chance of winning a fixed monetary prize, the other an ambiguous chance. Participants choose either individually or in groups of three. Group decision rules vary. In one treatment the collective choice is taken by majority; in another it is dictated by two group members; in the third it is dictated by a single group member. We observe high proportions of ambiguity averse choices in both individual and collective decision making. Although a majority of participants display consistent ambiguity attitudes across their decisions, collective choice tends to foster ambiguity aversion, especially if the decision rule assigns asymmetric responsibilities to group members. Previous participation in laboratory experiments may miti- gate this.

See on econpapers.repec.org

Annunci


Time is real? I think not

settembre: 2014
L M M G V S D
« Ago   Ott »
1234567
891011121314
15161718192021
22232425262728
2930  

Commenti recenti

Lorenzo Bosio su Un testo che trascende le sue…

Inserisci il tuo indirizzo e-mail per iscriverti a questo blog e ricevere notifiche di nuovi messaggi per e-mail.

Segui assieme ad altri 1.041 follower

Latest Tweets

Annunci

%d blogger hanno fatto clic su Mi Piace per questo: