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How certain is the uncertainty effect?

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    0339587 - NHU-C 2010 RIV NL eng J - Journal Article
    Rydval, O. - Ortmann, A. - Prokosheva, Sasha - Hertwig, R.
    How certain is the uncertainty effect?
    Experimental Economics. Roč. 12, č. 4 (2009), s. 473-487. ISSN 1386-4157. E-ISSN 1573-6938
    R&D Projects: GA MŠMT LC542
    Institutional research plan: CEZ:MSM0021620846
    Keywords : decision making under risk * framing * task ambiguity
    Subject RIV: AH - Economics
    Impact factor: 3.300, year: 2009

    We replicate three tasks for which Gneezy, List and Wu (Q. J. Econ. 121(4):1283–1309, 2006) document the so-called uncertainty effect: People value a binary lottery over non-monetary outcomes less than other people value the lottery’s worse outcome. While the authors implement verbal lottery descriptions, we use a physical lottery format and also provide subjects with complete information about the goods they are to value.
    Permanent Link: http://hdl.handle.net/11104/0183070

     
     
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