The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Ambiguity Aversion and Comparative Ignorance
Abstract
Decisions under uncertainty depend not only on the degree of uncertainty but also on its source, as illustrated by Ellsberg's observation of ambiguity aversion. In this article we propose the comparative ignorance hypothesis, according to which ambiguity aversion is produced by a comparison with less ambiguous events or with more knowledgeable individuals. This hypothesis is supported in a series of studies showing that ambiguity aversion, present in a comparative context in which a person evaluates both clear and vague prospects, seems to disappear in a noncomparative context in which a person evaluates only one of these prospects in isolation.
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Citations
Cites
“Risk, Ambiguity, and the Savage Axioms.”
Ellsberg, D. (1961) · The Quarterly Journal of Economics · doi:10.2307/1884324 · Cited by 7,891
Recent developments in modeling preferences: Uncertainty and ambiguity
Camerer, C., & Weber, M. (1992) · Journal of Risk and Uncertainty · doi:10.1007/bf00122575 · Cited by 1,795
Preference and belief: Ambiguity and competence in choice under uncertainty
Heath, C., & Tversky, A. (1991) · Journal of Risk and Uncertainty · doi:10.1007/bf00057884 · Cited by 1,654
Self-citation
Cited by
Representativeness revisited: Attribute substitution in intuitive judgment.
Kahneman, D., & Frederick, S. (2002) · Heuristics and Biases · doi:10.1017/cbo9780511808098.004 · Cited by 3,476
Slovic, P., Finucane, M., Peters, E., & MacGregor, D. G. (2002) · Heuristics and Biases · doi:10.1017/cbo9780511808098.025 · Cited by 2,349
Experimental methods: Between-subject and within-subject design
Charness, G., Gneezy, U., & Kuhn, M. A. (2012) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2011.08.009 · Cited by 1,469
Neural systems responding to degrees of uncertainty in human decision-making
Hsu, M., Bhatt, M., Adolphs, R., Tranel, D., & Camerer, C. F. (2005) · Science · doi:10.1126/science.1115327 · Cited by 1,411
Ellsberg Revisited: An Experimental Study
Halevy, Y. (2007) · Econometrica · doi:10.1111/j.1468-0262.2006.00755.x · Cited by 609
Metadata
- Authors
- Fox, C. R., & Tversky, A.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1995-08-01
- Volume
- 110
- Issue
- 3
- Pages
- 585-603
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2144810549
- Cited by
- 1,022
- References
- 3
- FWCI
- 2.25
- Type
- journal article
- Language
- en
- Open access
- closed
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- Fox, C. R., & Tversky, A. (1995). Ambiguity Aversion and Comparative Ignorance. The Quarterly Journal of Economics. https://doi.org/10.2307/2946693
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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