Fiche du document
9 juin 2023
- handle: 10670/1.gflyb0
- hal: hal-04071230
Ce document est lié à :
info:eu-repo/grantAgreement//101056891/EU/Climate policy acceptability Economic Framework/CAPABLE
info:eu-repo/semantics/OpenAccess
Mots-clés
Ambiguity aversion experiment Ellsberg paradox model uncertainty D - Microeconomics/D.D8 - Information, Knowledge, and UncertaintyCiter ce document
Loïc Berger, « A Randomness Device to Create the Conditions of Uncertainty », HAL-SHS : économie et finance, ID : 10670/1.gflyb0
Métriques
Partage / Export
Résumé
The experimental study of decision-making under uncertainty typically builds on Ellsberg's (1961) setting. Yet, as the total number of balls is known in standard Ellsberg's urns, an implicit constraint is put on the specification of the probability models to consider. In practice, this restricts the ability of Ellsberg's urns to characterize situations going beyond those of model ambiguity. In this note, I present a simple and easy-to-implement device that creates the initial conditions of uncertainty, which constitute a critical prerequisite for the study of model misspecification.