Two different types of games are used to measure subjects¡¦ attitudes towards risk and ambiguity in this paper. In GAME 1, subjects are provided with a series of binary choices and a fill-in question for every set of tasks. In GAME 2, subjects are asked to play an auction game. Gains and losses stimulate subjects¡¦ different attitudes toward risk. It also happens when we measure subjects¡¦ attitude toward ambiguity. However, the results of Game 1 and Game 2 lack strong correlation with each other.
While answering the series of binary choices in Game 1, subjects are risk averse/ambiguity averse over gains, and risk seeking/ambiguity seeking over losses. While answering the fill-in question in Game 1, subjects are risk neutral/ambiguity neutral over gains, and risk seeking/ambiguity seeking over losses.
In GAME 2, we measure the attitude toward risk or attitude by the deviation from the case of neutrality or by risk indexes/ambiguity indexes. Analyzing the deviation, we conclude: (1) In the gains domain with high average probabilities to win, subjects are risk averse/ambiguity averse, but in the case of low average probabilities to win, subjects are risk seeking/ambiguity seeking. On the other hand, in the losses domain with high average probabilities to loss, subjects are risk seeking/ambiguity seeking, but when with low average probabilities to loss, subjects are risk aversion/ambiguity aversion. (2) The correlation between the attitudes toward risk and ambiguity gains is significantly greater than that over losses. (3) In the gains domain, the level of ambiguity aversion of subjects significantly increases with the ambiguous ranges of games. However, in the losses domain, the relation between those two is weak or non-significant.
Analyzing the data with the risk indexes and the ambiguity indexes, we have two conclusions identical to the above. However, in the gains domain, the level of ambiguity aversion of subjects significantly increases with the ambiguity range of the games while we have the opposite result in the losses domain.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0709112-104146 |
| Date | 09 July 2012 |
| Creators | Lin, Jing-ing |
| Contributors | Shih-jye Wu, Yung-nian Tung, Chih-min She, Chun-chieh Wang |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0709112-104146 |
| Rights | user_define, Copyright information available at source archive |
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