Ambiguity attitudes for real-world sources: field evidence from a large sample of investors
Issued Date
2024-01-01
Resource Type
ISSN
13864157
eISSN
15736938
Scopus ID
2-s2.0-85193343336
Journal Title
Experimental Economics
Rights Holder(s)
SCOPUS
Bibliographic Citation
Experimental Economics (2024)
Suggested Citation
Anantanasuwong K., Kouwenberg R., Mitchell O.S., Peijnenburg K. Ambiguity attitudes for real-world sources: field evidence from a large sample of investors. Experimental Economics (2024). doi:10.1007/s10683-024-09825-1 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/98458
Title
Ambiguity attitudes for real-world sources: field evidence from a large sample of investors
Corresponding Author(s)
Other Contributor(s)
Abstract
Empirical studies of ambiguity aversion mostly use artificial events such as Ellsberg urns to control for unknown probability beliefs. The present study measures ambiguity attitudes using real-world events in a large sample of investors. We elicit ambiguity aversion and perceived ambiguity for a familiar company stock, a local stock index, a foreign stock index, and Bitcoin. Measurement reliability is higher than for artificial sources in previous studies. Ambiguity aversion is highly correlated for different assets, while perceived ambiguity varies more between assets. Further, we show that ambiguity attitudes are related to actual investment choices.