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Title:Valuing a risky prospect less than its worst outcome: uncertainty effect or task ambiguity? PDF Logo
Authors:Ortmann, Andreas
Prokosheva, Alexandra
Rydval, Ondřej
Hertwig, Ralph
Issue Date:2007
Series/Report no.:Jena economic research papers 2007,038
Abstract:Gneezy, List and Wu [Q. J. Econ. 121 (2006) 1283-1309] document that lotteries are often valued less than the lotteries’ worst outcomes. We show how to undo this result.
Subjects:Risky choice
framing
experiments
task ambiguity
subject confusion
JEL:C81
C91
C93
D83
Document Type:Working Paper
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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