Unraveling ambiguity aversion

THE REVIEW OF ECONOMICS AND STATISTICS, Forthcoming
Aydogan, Ilke; Berger, Loic; Bosetti, Valentina
Abstract

We report the results of two experiments designed to better understand the
mechanisms driving decision-making under ambiguity. We elicit individual prefer-
ences over di erent sources of uncertainty, entailing di erent degrees of complexity,
from subjects with di erent sophistication levels.