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Ambiguity attitudes of individuals and groups in gain and loss domains

Author

Listed:
  • Aljoscha Minnich

    (University of Hamburg, Department of Economics and Center for Earth System Research and Sustainability (CEN))

  • Andreas Lange

    (University of Hamburg, Department of Economics)

Abstract

This study measures the differences in ambiguity attitudes of groups and individuals in the gain and loss domains. We elicit ambiguity aversion and ambiguity-generated insensitivity for natural temperature events. We do not find significant differences between individuals and groups in our main sample, yet higher ambiguity aversion and ambiguity-generated insensitivity result for groups in the gain domain when constraining the sample to groups and individuals with a better understanding of the experiment. The group effect on the ambiguity-generated insensitivity is sign-dependent.

Suggested Citation

  • Aljoscha Minnich & Andreas Lange, 2025. "Ambiguity attitudes of individuals and groups in gain and loss domains," Theory and Decision, Springer, vol. 98(3), pages 373-403, May.
    • Handle: RePEc:kap:theord:v:98:y:2025:i:3:d:10.1007_s11238-024-10009-9
    DOI: 10.1007/s11238-024-10009-9
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