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Risk, ambiguity, and diversification

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dc.creatorSautua, Santiago Ignacio
dc.date.accessioned2016-05-20T14:39:18Z
dc.date.available2016-05-20T14:39:18Z
dc.date.created2016-03-11
dc.date.issued2016
dc.description.abstractAttitudes toward risk influence the decision to diversify among uncertain options. Yet, because in most situations the options are ambiguous, attitudes toward ambiguity may also play an important role. I conduct a laboratory experiment to investigate the effect of ambiguity on the decision to diversify. I find that diversification is more prevalent and more persistent under ambiguity than under risk. Moreover, excess diversification under ambiguity is driven by participants who stick with a status quo gamble when diversification among gambles is not feasible. This behavioral pattern cannot be accommodated by major theories of choice under ambiguity.eng
dc.format.extent82 páginasspa
dc.format.mimetypeapplication/pdf
dc.format.tipoDocumentospa
dc.identifier.doihttps://doi.org/10.48713/10336_12039
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/12039
dc.language.isospa
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.urihttps://ideas.repec.org/p/col/000092/014588.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
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dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.ddcEconomía
dc.subject.jelC91
dc.subject.jelD01
dc.subject.jelD03
dc.subject.jelD81
dc.subject.keywordriskeng
dc.subject.keywordinertiaeng
dc.subject.keyworddiversificationeng
dc.subject.keywordreference-dependent preferenceseng
dc.subject.keywordindecisivenesseng
dc.subject.keywordambiguity aversioneng
dc.subject.lembEconomíaspa
dc.subject.lembInercia::Aspectos Económicosspa
dc.subject.lembDiversificación::Aspectos Económicosspa
dc.titleRisk, ambiguity, and diversificationspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaDocumento de trabajospa
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