Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127361
Authors: 
Duersch, Peter
Römer, Daniel
Roth, Benjamin
Year of Publication: 
2013
Series/Report no.: 
Discussion Paper Series, University of Heidelberg, Department of Economics 548
Abstract: 
To make predictions with theories, usually we assume an individual's characteristics such as uncertainty preferences to be stable over time. In this paper, we analyze the stability of ambiguity preferences experimentally. We repeatedly elicit ambiguity attitudes towards multiple 3-color Ellsberg urns over a period of two months. In our data, 57% of the choices are consistent with stable preferences over the time of observation. This share is significantly higher than random choices would suggest, but significantly lower than the level of consistency in a control treatment without a time lag (71%). Interestingly, for subjects who are able to recall their decision after two months correctly, the share of consistent choices does not drop significantly over time.
Subjects: 
ambiguity
stability of preferences
experiment
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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