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Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis

Dolan, Paul and Jones, Martin (2004) Explaining attitudes towards ambiguity: an experimental test of the comparative ignorance hypothesis. Scottish Journal of Political Economy, 51 (3). pp. 281-301. ISSN 0036-9292

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Abstract

Many theories have been put forward to explain attitudes towards ambiguity. This paper reports on an experiment designed to test for the existence of Comparative Ignorance when it is tested over events with a range of different likelihoods. A total of 93 subjects valued a series of gambles, one of which was played out for real. The results do not lend support to the theory, although the relationship between risk and ambiguity does appear to correspond with other theories and previous empirical work.

Item Type: Article
Official URL: http://onlinelibrary.wiley.com/journal/10.1111/%28...
Additional Information: © 2004 Scottish Economic Society
Library of Congress subject classification: B Philosophy. Psychology. Religion > BD Speculative Philosophy
Sets: Departments > Social Policy
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 09 Mar 2011 16:17
URL: http://eprints.lse.ac.uk/33042/

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