Ambiguity Attitudes in a Large Representative Sample
提出一种测量模糊态度的方法，并在大型代表性样本中应用，发现模糊不敏感性与股票市场参与负相关，模糊厌恶仅在感知高度模糊时与参与负相关。
Using a theorem showing that matching probabilities of ambiguous events can capture ambiguity attitudes, we introduce a tractable method for measuring ambiguity attitudes and apply it in a large representative sample. In addition to ambiguity aversion, we confirm an ambiguity component recently found in laboratory studies: a-insensitivity, the tendency to treat subjective likelihoods as 50-50, thus overweighting extreme events. Our ambiguity measurements are associated with real economic decisions; specifically, a-insensitivity is negatively related to stock market participation. Ambiguity aversion is also negatively related to stock market participation, but only for subjects who perceive stock returns as highly ambiguous. This paper was accepted by James Smith, decision analysis.