title: Attitudes towards Uncertainty and Randomization: An Experimental Study
creator: Dominiak, Adam
creator: Schnedler, Wendelin
subject: 330
subject: 330 Economics
description: Individuals exhibit a randomization preference if they prefer random mixtures of two bets to each of the involved bets. Such preferences provide the foundation of various models of uncertainty aversion. However, it has to our knowledge not been empirically investigated whether uncertainty-averse decision makers indeed exhibit such preferences. Here, we examine the relationship experimentally. We find that uncertainty aversion is not positively associated with randomization preferences. Moreover, we observe choices that are not consistent with the prevailing theories of uncertainty aversion: a non-negligible number of uncertain-averse subjects seem to dislike randomization.
date: 2009
type: Working paper
type: info:eu-repo/semantics/workingPaper
type: NonPeerReviewed
format: application/pdf
identifier: https://archiv.ub.uni-heidelberg.de/volltextserverhttps://archiv.ub.uni-heidelberg.de/volltextserver/10203/1/Dominiak_Schnedler_2009_dp494.pdf
identifier: DOI:10.11588/heidok.00010203
identifier: urn:nbn:de:bsz:16-opus-102037
identifier:   Dominiak, Adam ; Schnedler, Wendelin  (2009) Attitudes towards Uncertainty and Randomization: An Experimental Study.  [Working paper]     
relation: https://archiv.ub.uni-heidelberg.de/volltextserver/10203/
rights: info:eu-repo/semantics/openAccess
rights: http://archiv.ub.uni-heidelberg.de/volltextserver/help/license_urhg.html
language: eng