Commonalities in Time and Ambiguity Aversion for Long-Term Risks

Theory and Decision 54 (1):57-71 (2003)
Abstract
Optimal protective responses to long-term risks depend on rational perceptions of ambiguous risks and uncertain time horizons. Our study examined the joint influence of uncertain delay and risk in an original sample of business owners and managers. We found that many subjects disliked uncertainty in the timing of an outcome, a reaction we term ``lottery timing risk aversion.'' Such aversion to uncertain timing was positively related to aversion to ambiguous probabilities for lotteries involving storm damage risks. This association suggests that uncertainty may be processed similarly in both the risk and time dimensions
Keywords Ambiguity  Discounting  Ellsberg Paradox  Risk  Uncertainty
Categories No categories specified
(categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 10,788
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Citations of this work BETA
Similar books and articles
John T. Sanders (1996). Risk and Value. A.S.V.I. News 1996 (Spring):4-5.
Karl Mosler (1997). De Minimis and Equity in Risk. Theory and Decision 42 (3):215-233.
Analytics

Monthly downloads

Added to index

2010-09-02

Total downloads

8 ( #168,674 of 1,099,037 )

Recent downloads (6 months)

2 ( #175,277 of 1,099,037 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.