Characterizing ambiguity attitudes using model uncertainty

Archive ouverte : Article de revue

Berger, Loïc | Bosetti, Valentina

Edité par HAL CCSD ; Elsevier

International audience. We report the results of an experiment eliciting individuals' attitudes toward risk and model uncertainty. Using a joint elicitation procedure, we then precisely quantify the strength of individuals' attitude toward ambiguity in the context of the smooth model and characterize its main properties. Our results provide empirical evidence of decreasing absolute ambiguity aversion (DAAA) and constant relative ambiguity aversion (CRAA). These results shed new light on the way ambiguity attitudes may affect important decisions, such as the choice of health insurance policies or the optimal investment strategy in the face of climate change.

Consulter en ligne

Suggestions

Du même auteur

COP21 climate negotiators’ responses to climate model forecasts | Bosetti, Valentina

COP21 climate negotiators’ responses to climate model forecasts

Archive ouverte: Article de revue

Bosetti, Valentina | 2017-03

International audience

Rational Policymaking during a Pandemic | Berger, Loïc

Rational Policymaking during a Pandemic

Archive ouverte: Article de revue

Berger, Loïc | 2021-01-26

International audience. Policymaking during a pandemic can be extremely challenging. As COVID-19 is a new disease and its global impacts are unprecedented, decisions are taken in a highly uncertain, complex, and rap...

Risk, ambiguity, and the value of diversification | Berger, Loïc

Risk, ambiguity, and the value of diversification

Archive ouverte: Article de revue

Berger, Loïc | 2021-03

International audience. Diversification is a basic economic principle that helps to hedge against uncertainty. It is therefore intuitive that both risk aversion and ambiguity aversion should positively affect the va...

Du même sujet

Alcohol ‘use’ and ‘abuse’: when culture, social context and identity matter | Lo Monaco, Grégory

Alcohol ‘use’ and ‘abuse’: when culture, social context and identity matter

Archive ouverte: Article de revue

Lo Monaco, Grégory | 2020-06

International audience

Monitoring the emotional facial reactions of individuals with antisocial personality disorder during the retrieval of self-defining memories | Lavallee, Audrey

Monitoring the emotional facial reactions of individuals with antisocial pe...

Archive ouverte: Article de revue

Lavallee, Audrey | 2022

International audience. While a deficit in the recognition of facial expression has been demonstrated in persons with antisocial personality disorder (ASPD), few studies have investigated how individuals with ASPD p...

Quantifier l’évolution cognitive dans la sclérose en plaques : quels sont les indices les plus fiables ? | Schmid, Franca

Quantifier l’évolution cognitive dans la sclérose en plaques : quels sont l...

Archive ouverte: Poster de conférence

Schmid, Franca | 2020-09-04

International audience

Exploring and talking about music | Paté, Arthur

Exploring and talking about music

Archive ouverte: Type de document indéfini

Paté, Arthur | 2021

International audience

Assessing cognitive changes in Multiple Sclerosis: which change index is the most reliable? | Schmid, Franca

Assessing cognitive changes in Multiple Sclerosis: which change index is th...

Archive ouverte: Communication dans un congrès

Schmid, Franca | 2018-10-13

International audience

Virtualisation de Joutes Urbaines : modélisation réaliste des évitements sur trottoir étroit | Deroo, Cléo

Virtualisation de Joutes Urbaines : modélisation réaliste des évitements su...

Archive ouverte: Communication dans un congrès

Deroo, Cléo | 2018-10-29

National audience. Les trottoirs étroits, héritages d’un centre‐ville historique ou résultats d’aménagements prenant insuffisamment en compte les flux piétonniers, sont le lieu d’interactions intenses entre piétons....

Chargement des enrichissements...