Montag, 4. Februar 2013

An Experiment on the Ellsberg Paradox

Vortrag von Ken Binmore

Experimental results on the Ellsberg paradox typically reveal behavior that is commonly interpreted as ambiguity aversion. The experiments reported find the objective probabilities for drawing a red ball that make subjects indifferent between various risky and uncertain Ellsberg bets. They allow us to examine the predictive power of alternative principles of choice under uncertainty, including the objective maximin and Hurwicz criteria, the sure-thing principle, and the principle of insufficient reason. Contrary to our expectations, the principle of insufficient reason performed substantially better than rival theories in our experiment, with ambiguity aversion appearing only as a secondary phenomenon.

Gebhard Glock
gebhard.glock [at]
Wir bitten um Anmeldung bis zum 25.01.2013.
WZB, Reichpietschufer 50, 10785 Berlin, Raum A 310
Montag, 4. Februar 2013
Beginn 17:15 Uhr
Professor Steffen Huck (WZB) und Professor Roland Strausz (Humboldt Universität zu Berlin)