Testing constant absolute and relative ambiguity aversion
提出了检验常绝对和常相对模糊厌恶的首个方法，基于埃尔斯伯格悖论的简单变体，并通过实验发现模糊厌恶会随财富增加而下降，对金融和储蓄决策有重要启示。
Recent applications have demonstrated the crucial role of decreasing absolute ambiguity aversion in financial and saving decisions. Yet, most ambiguity models predict that ambiguity aversion remains constant when individuals become better off overall. We propose the first tests of constant absolute and relative ambiguity aversion, using simple variations of the Ellsberg paradoxes. Our tests are axiomatically founded and grounded in the theoretical literature. We implemented these tests in an experiment. Our results call for the use of ambiguity models that can accommodate decreasing aversion toward ambiguity.