eprintid: 18747
rev_number: 28
eprint_status: archive
userid: 2744
dir: disk0/00/01/87/47
datestamp: 2015-05-15 14:33:54
lastmod: 2016-01-11 14:41:01
status_changed: 2015-05-15 14:33:54
type: workingPaper
metadata_visibility: show
creators_name: Dominiak, Adam 
creators_name: Duersch, Peter
title: Benevolent and Malevolent Ellsberg Games 
subjects: 330
divisions: 181000
keywords: Ellsberg task, experiment, zero-sum game, coordination game, ambiguity, uncertainty averse preferences
abstract: Traditionally, real experiments testing subjective expected utility theory take for granted that subjects view the Ellsberg task as a one-person decision problem. We challenge this view: Instead of seeing the Ellsberg task as a one-person decision problem, it can be perceived as a two-player game. One player chooses among the bets. The second player determines the distribution of balls in the Ellsberg urn. The Nash equilibrium predictions of this game depend on the payoff of the second player, with the game ranging from a zero-sum one to a coordination game. Meanwhile, the predictions by ambiguity aversion models remain unchanged. Both situations are implemented experimentally and yield different results, in line with the game-theoretic prediction. Additionally, the standard scenario (without explicit mention of how the distribution is determined) leads to results similar to the zero-sum game, suggesting that subjects view the standard Ellsberg experiment as a game against the experimenter.
date: 2015-05
id_scheme: DOI
id_number: 10.11588/heidok.00018747
schriftenreihe_cluster_id: sr-3
schriftenreihe_order: 0592
ppn_swb: 1656883325
own_urn: urn:nbn:de:bsz:16-heidok-187477
language: eng
bibsort: DOMINIAKADBENEVOLENT201505
full_text_status: public
series: Discussion Paper Series, University of Heidelberg, Department of Economics
volume: 0592
place_of_pub: Heidelberg
pages: 40
citation:   Dominiak, Adam  ; Duersch, Peter  (2015) Benevolent and Malevolent Ellsberg Games.  [Working paper]     
document_url: https://archiv.ub.uni-heidelberg.de/volltextserver/18747/1/dominiak_duersch_2015_dp592.pdf