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    Recursive Expected Utility and the Separation of Attitudes Towards Risk and Ambiguity: An Experimental Study. [REVIEW]Sujoy Chakravarty & Jaideep Roy - 2008 - Theory and Decision 66 (3):199-228.
    We use the multiple price list method and a recursive expected utility theory of smooth ambiguity to separate out attitude towards risk from that towards ambiguity. Based on this separation, we investigate if there are differences in agent behaviour under uncertainty over gain amounts vis-a-vis uncertainty over loss amounts. On an aggregate level, we find that (i) subjects are risk averse over gains and risk seeking over losses, displaying a “reflection effect” and (ii) they are ambiguity neutral over gains and (...)
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    Double Auctions with No-Loss Constrained Traders.Nejat Anbarci & Jaideep Roy - 2018 - Theory and Decision 84 (1):1-9.
    Do hard budget constraints work in favour or against truth telling in double auctions? McAfee constructed a simple double auction mechanism, which is strategyproof and minimally inefficient, but may resort to dual prices, where the difference between prices is channelled as a surplus to the market maker, preventing MDA from achieving a balanced budget. We construct a variant of MDA in which no-loss constraints play a major positive role. Our variant of MDA is also strategyproof, as efficient as MDA but (...)
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  3. Attitudes Towards Risk and Ambiguity Across Gains and Losses.Sujoy Chakravarty & Jaideep Roy - forthcoming - Theory and Decision.
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