Measuring ambiguity preferences: A new ambiguity preference survey module

Elisa Cavatorta, David Schröder

Research output: Contribution to journalArticlepeer-review

6 Citations (Scopus)
94 Downloads (Pure)

Abstract

Ambiguity preferences are important to explain human decision-making in many areas in economics and finance. To measure individual ambiguity preferences, the experimental economics literature advocates using incentivized laboratory experiments. Yet, laboratory experiments are costly, time-consuming and require substantial administrative effort. This study develops an experimentally validated ambiguity preference survey module that can reliably measure ambiguity preferences when carrying out laboratory experiments is impractical. This toolkit may have wide applications, including end-of-session lab questionnaires, large scale surveys and financial client assessments.
Original languageEnglish
Pages (from-to)71-100
Number of pages30
JournalThe Journal of Risk and Uncertainty
Volume58
Issue number1
Early online date22 Apr 2019
DOIs
Publication statusPublished - 22 Apr 2019

Keywords

  • Ambiguity
  • Decision making
  • Experimental economics
  • Preference measurement
  • Survey validation

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