Preference Reversals for Ambiguity Aversion

  title={Preference Reversals for Ambiguity Aversion},
  author={Stefan T. Trautmann and Ferdinand M. Vieider and Peter P. Wakker},
  journal={Management Science},
T paper finds preference reversals in measurements of ambiguity aversion, even if psychological and informational circumstances are kept constant. The reversals are of a fundamentally different nature than the reversals found before because they cannot be explained by context-dependent weightings of attributes. We offer an explanation based on Sugden’s random-reference theory, with different elicitation methods generating different random reference points. Then measurements of ambiguity… CONTINUE READING
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Preference Reversals for Ambiguity Aversion

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