eprintid: 15400
rev_number: 16
eprint_status: archive
userid: 2744
dir: disk0/00/01/54/00
datestamp: 2013-08-13 08:28:18
lastmod: 2015-04-23 02:06:52
status_changed: 2013-08-13 08:28:18
type: workingPaper
metadata_visibility: show
creators_name: Duersch, Peter
creators_name: Römer, Daniel
creators_name: Roth, Benjamin
title: Intertemporal stability of ambiguity preferences
subjects: ddc-330
divisions: i-181000
keywords: ambiguity, stability of preferences, experiment
abstract: To make predictions with theories, usually we assume an individual's characteristics such as uncertainty preferences to be stable over time. In this paper, we analyze the stability of ambiguity preferences experimentally. We repeatedly elicit ambiguity attitudes towards multiple 3-color Ellsberg urns over a period of two months. In our data, 57% of the choices are consistent with stable preferences over the time of observation. This share is significantly higher than random choices would suggest, but significantly lower than the level of consistency in a control treatment without a time lag (71%). Interestingly, for subjects who are able to recall their decision after two months correctly, the share of consistent choices does not drop significantly over time.
date: 2013-08
id_scheme: DOI
id_number: 10.11588/heidok.00015400
schriftenreihe_cluster_id: sr-3
schriftenreihe_order: 0548
ppn_swb: 1652983902
own_urn: urn:nbn:de:bsz:16-heidok-154005
language: eng
bibsort: DUERSCHPETINTERTEMPO201308
full_text_status: public
series: Discussion Paper Series / University of Heidelberg, Department of Economics
volume: 0548
pages: 30
citation:   Duersch, Peter ; Römer, Daniel ; Roth, Benjamin  (2013) Intertemporal stability of ambiguity preferences.  [Working paper]     
document_url: https://archiv.ub.uni-heidelberg.de/volltextserver/15400/1/duersch_roemer_roth_2013_dp548.pdf