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Decision confidence in the Ellsberg experiment

Duersch, Peter

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Abstract

Subjects are asked to report their confidence in their own decisions regarding the Ellsberg three color urn. Subjective confidence is measured via a 5 point Likert scale. Surprisingly, subjects are more confident in their answer for the more complicated two color question, compared to the simple one color question. This is robust across a wide range of experimental contexts.

Item Type: Working paper
Series Name: Discussion Paper Series, University of Heidelberg, Department of Economics
Volume: 0594
Place of Publication: Heidelberg
Date Deposited: 18 Jun 2015 09:34
Date: June 2015
Number of Pages: 4
Faculties / Institutes: The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics
Subjects: 330 Economics
Uncontrolled Keywords: Ellsberg experiment, Confidence
Schriftenreihe ID: Discussion Paper Series / University of Heidelberg, Department of Economics
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