An experimental investigation of imprecision attitude and its relation with risk attitude and impatience |
| |
Authors: | Michèle Cohen Jean-Marc Tallon Jean-Christophe Vergnaud |
| |
Institution: | (1) Department of Economics, University of Tennessee, Knoxville, TN 37996-0550, USA |
| |
Abstract: | We report in this article the result of three experiments on risk, ambiguity, and time attitude. The first two differed by
the population considered (students vs. general population) while the third one used a different protocol and concerned students
and portfolio managers. We find quite a lot of heterogeneity at the individual level. Of principal interest was the elicitation
of risk, time, and ambiguity attitudes and the relationship among these (model free) measures. We find that on the student
population, there is essentially no correlation. A non-negligible fraction of the population behaves in an extremely cautious
manner in the risk and ambiguity domain. When we drop this population from the sample, the correlation between our measures
is also non-significant. We also raise three questions linked to measurement of ambiguity attitudes that come out from our
data sets. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|