Randomization advice and ambiguity aversion
通过实验室实验,研究了模糊厌恶偏好模型的行为是否具有规范性吸引力,发现被试行为源于对问题的不完全理解,而澄清决策环境后,被试更倾向于模糊厌恶模型的选择。
Abstract We design and implement lab experiments to evaluate the normative appeal of behavior arising from models of ambiguity-averse preferences. We report two main empirical findings. First, we demonstrate that behavior reflects an incomplete understanding of the problem, providing evidence that subjects do not act on the basis of preferences alone. Second, additional clarification of the decision making environment pushes subjects’ choices in the direction of ambiguity aversion models, regardless of whether or not the choices are also consistent with subjective expected utility, supporting the position that subjects find such behavior normatively appealing.