Sie können Bookmarks mittels Listen verwalten, loggen Sie sich dafür bitte in Ihr SLUB Benutzerkonto ein.
Medientyp:
Bericht;
E-Book
Titel:
Testing dynamic consistency and consequentialism under ambiguity
Beteiligte:
Bleichrodt, Han
[Verfasser:in];
Eichberger, Jürgen
[Verfasser:in];
Grant, Simon
[Verfasser:in];
Kelsey, David
[Verfasser:in];
Li, Chen
[Verfasser:in]
Erschienen:
Nottingham: The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx), 2020
Anmerkungen:
Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
Beschreibung:
Accounting for ambiguity aversion in dynamic decisions generally implies that either dynamic consistency or consequentialism must be given up. To gain insight into which of these principles better describes people's preferences we tested them using a variation of Ellsberg's three-color urn experiment. Subjects were asked to make a choice both before and after they received a signal. We found that most ambiguity neutral subjects satisfied both dynamic consistency and consequentialism and behaved consistent with subjective expected utility with Bayesian updating. The majority of ambiguity averse subjects violated at least one of the principles and they were more likely to satisfy consequentialism than dynamic consistency.