Strategic ambiguity and decision-making: an experimental study
By David Kelsey, Sara le Roux. Theory and Decision, 2017
90 citations recorded by the source corpus.
We conducted a set of experiments to compare the effect of ambiguity in single-person decisions and games. Our results suggest that ambiguity has a bigger impact in games than in ball and urn problems. We find that ambiguity has the opposite effect in games of strategic substitutes and complements. This confirms a theoretical prediction made by Eichberger and Kelsey (J Econ Theory 106:436–466, 2002). In addition, we note that subjects’ ambiguity attitudes appear to be context dependent: ambiguity loving in single-person decisions and ambiguity averse in games. This is consistent with the findings of Kelsey and le Roux (Theory Decis 79:667–688, 2015).
Subfields: General Decision Sciences, Safety Research, Sociology and Political Science
View Paper: https://www.semanticscholar.org/paper/8afa94c172854709b81901dcc93aa800c6fad15d
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Citations in the corpus
- Information Asymmetry and Market Power in the African Banking Industry (2017, background): “Accordingly, inflation is an important source of economic ambiguity and investors have been documented to be more inclined towards investment climates that are less ambiguous (see Le Roux & Kelsey, 2016; Kelsey & Le Roux, 2016).”