Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/167628
Authors: 
Bouchouicha, Ranoua
Martinsson, Peter
Medhin, Haileselassie
Vieider, Ferdinand M.
Year of Publication: 
2017
Citation: 
[Journal:] Theory and decision: an international journal for multidisciplinary advances in decision science [ISSN:] 1573-7187 [Publisher:] Springer US [Place:] New York [Volume:] 83 [Year:] 2017 [Issue:] 1 [Pages:] 19–35
Abstract: 
We test the effect of stake size on ambiguity attitudes. Compared to a baseline condition, we find subjects to be more ambiguity seeking for small-probability gains and large-probability losses under high stakes. They are also more ambiguity averse for large-probability gains and small-probability losses. We trace these effects back to stake effects on decisions under risk (known probabilities) and uncertainty (unknown probabilities). For risk, we replicate previous findings. For uncertainty, we find an increase in probabilistic insensitivity under high stakes that is driven by increased uncertainty aversion for large-probability gains and for small-probability losses.
Subjects: 
Monetary stakes
Ambiguity aversion
Risk attitudes
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/4.0
Document Type: 
Article

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