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Collective choices under ambiguity

1st Person: Levati, M. Vittoria
Additional Persons: Napel, Stefan; Soraperra, Ivan
Type of Publication: Paper
Language: English
Published: Max Planck Institute of Economics 2014
Series: Jena Economic Research Papers
Online: https://www.econstor.eu/bitstream/10419/104569/1/796700559.pdf
id
oai_econstor.eu_10419-104569
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Collective choices under ambiguity
spellingShingle
Collective choices under ambiguity
Levati, M. Vittoria
Jena Economic Research Papers
title_short
Collective choices under ambiguity
title_full
Collective choices under ambiguity
title_fullStr
Collective choices under ambiguity
title_full_unstemmed
Collective choices under ambiguity
title_sort
Collective choices under ambiguity
format
electronic Article
format_phy_str_mv
Paper
publisher
Max Planck Institute of Economics
publishDate
2014
language
English
author
Levati, M. Vittoria
author2
Napel, Stefan
Soraperra, Ivan
author2Str
Napel, Stefan
Soraperra, Ivan
description
We investigate experimentally whether collective choice matters for individual attitudes to ambiguity. We consider a two-urn Ellsberg experiment: one urn offers a 45% chance of winning a fixed monetary prize, the other an ambiguous chance. Participants choose either individually or in groups of three. Group decision rules vary. In one treatment the collective choice is taken by majority; in another it is dictated by two group members; in the third it is dictated by a single group member. We observe high proportions of ambiguity averse choices in both individual and collective decision making. Although a majority of participants display consistent ambiguity attitudes across their decisions, collective choice tends to foster ambiguity aversion, especially if the decision rule assigns asymmetric responsibilities to group members. Previous participation in laboratory experiments may mitigate this.
url
https://www.econstor.eu/bitstream/10419/104569/1/796700559.pdf
series
Jena Economic Research Papers
seriesStr
Jena Economic Research Papers
Jena Economic Research Papers
series2
Jena Economic Research Papers
series2_facet
Jena Economic Research Papers
up_date
2019-10-16T02:50:16.251Z
_version_
1647516561512071172

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