Preference Reversals for Ambiguity Aversion

被引：42
|
作者：
Trautmann, Stefan T. [1 ,2 ]
Vieider, Ferdinand M. [3 ]
Wakker, Peter P. [4 ]
机构：
[1] Tilburg Univ, Ctr Econ Res, NL-5000 LE Tilburg, Netherlands
[2] Tilburg Univ, Dept Econ, NL-5000 LE Tilburg, Netherlands
[3] Univ Munich, D-80802 Munich, Germany
[4] Erasmus Univ, Inst Econometr, NL-3000 DR Rotterdam, Netherlands
来源：
MANAGEMENT SCIENCE | 2011年 / 57卷 / 07期
关键词：
ambiguity aversion; preference reversal; loss aversion; choice versus valuation; WILLINGNESS-TO-PAY; PROSPECT-THEORY; COMPARATIVE IGNORANCE; CHOICE; RISK; OUTCOMES; ACCEPT; GAINS;
D O I：
10.1287/mnsc.1110.1343
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
T his paper finds preference reversals in measurements of ambiguity aversion, even if psychological and informational circumstances are kept constant. The reversals are of a fundamentally different nature than the reversals found before because they cannot be explained by context-dependent weightings of attributes. We offer an explanation based on Sugden's random-reference theory, with different elicitation methods generating different random reference points. Then measurements of ambiguity aversion that use willingness to pay are confounded by loss aversion and hence overestimate ambiguity aversion.
引用
收藏
页码：1320 / 1333
页数：14
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