Hedging, ambiguity, and the reversal of order axiom [Dataset]

DOI

We ran experiments that gave subjects a straight-forward and simple opportunity to hedge away ambiguity in an Ellsberg-style experiment. Subjects had to make bets on the combined outcomes of a fair coin and a draw from an ambiguous urn. By modifying the timing of the draw, coin flip, and decision, we are able to test the reversal-of-order axiom. Our main result is that the reversal-of-order axiom seems to hold. We also confirm low levels of ambiguity hedging despite the relative obviousness of the opportunity.

Identifier
DOI https://doi.org/10.11588/data/1XDKHZ
Related Identifier https://doi.org/10.1016/j.geb.2019.07.007
Metadata Access https://heidata.uni-heidelberg.de/oai?verb=GetRecord&metadataPrefix=oai_datacite&identifier=doi:10.11588/data/1XDKHZ
Provenance
Creator Oechssler, Jörg; Rau, Hannes; Roomets, Alex
Publisher heiDATA
Contributor Oechssler, Jörg; heiDATA: Heidelberg Research Data Repository
Publication Year 2019
Rights info:eu-repo/semantics/openAccess
OpenAccess true
Contact Oechssler, Jörg (Alfred-Weber-Institute of Economics, Heidelberg University, Heidelberg, Germany)
Representation
Resource Type Dataset
Format application/vnd.openxmlformats-officedocument.spreadsheetml.sheet; text/tab-separated-values; text/plain; application/x-stata-syntax; text/x-log
Size 27045; 26650; 939; 7056; 39850
Version 1.0
Discipline Agriculture, Forestry, Horticulture, Aquaculture; Agriculture, Forestry, Horticulture, Aquaculture and Veterinary Medicine; Life Sciences; Social Sciences; Social and Behavioural Sciences; Soil Sciences