/5
0 avis
Article
Experimental elicitation of ambiguity attitude using the random incentive system
in Experimental Economics, 25 (3)
Voir la revue «Experimental Economics»
We demonstrate how the standard usage of the random incentive system in ambiguity experiments eliciting certainty and probability equivalents might not be incentive compatible if the decision-maker is ambiguity averse. We propose a slight modification of the procedure in which the randomization takes place before decisions are made and the state is realized, and prove that if subjects evaluate the experimental environment in that way (first-risk, second-uncertainty), incentive compatibility may
...
be restored.
Lire la suite
Chargement des enrichissements...