The center and range of the probability interval as factors affecting ambiguity preferences
dc.contributor.author | Curley, Shawn P. | en_US |
dc.contributor.author | Yates, J. Frank | en_US |
dc.date.accessioned | 2006-04-07T18:57:39Z | |
dc.date.available | 2006-04-07T18:57:39Z | |
dc.date.issued | 1985-10 | en_US |
dc.identifier.citation | Curley, Shawn P., Yates, J. Frank (1985/10)."The center and range of the probability interval as factors affecting ambiguity preferences." Organizational Behavior and Human Decision Processes 36(2): 273-287. <http://hdl.handle.net/2027.42/25552> | en_US |
dc.identifier.uri | http://www.sciencedirect.com/science/article/B6WP2-4CYG20M-3D/2/d57a995e7551b0cc7ba0b4745514bc86 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/25552 | |
dc.description.abstract | Ambiguous decision situations are characterized as having probabilities that are uncertain. The uncertainty is due to the common, real-world deficiency of information about the process by which the outcomes are determined. Thirty lotteries having uncertain probabilities were constructed by varying the centers and the ranges of the intervals within which the imprecise probabilities of winning could lie. Pairs of the lotteries were presented as choice alternatives to subjects, with each pair having lotteries with the same interval center but differing interval ranges. Ambiguity avoidance, the selection of the less ambiguous option, was found to increase with the interval center C, with ambiguity indifference occurring for values of C [les] 0.40. No evidence of ambiguity seeking as the prevalent behavior was obtained. Ambiguity avoidance did not significantly increase with the interval range R, but an interaction effect between C and the ranges R1 and R2 of the choice pair was obtained. This effect of the ranges could not be described simply by knowledge of the difference R1 - R2; knowledge of both individual values was necessary. The theoretical implications of these results are discussed. | en_US |
dc.format.extent | 934095 bytes | |
dc.format.extent | 3118 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | |
dc.publisher | Elsevier | en_US |
dc.title | The center and range of the probability interval as factors affecting ambiguity preferences | en_US |
dc.type | Article | en_US |
dc.rights.robots | IndexNoFollow | en_US |
dc.subject.hlbsecondlevel | Psychology | en_US |
dc.subject.hlbtoplevel | Social Sciences | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | University of Michigan, USA | en_US |
dc.contributor.affiliationum | University of Michigan, USA | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/25552/1/0000094.pdf | en_US |
dc.identifier.doi | http://dx.doi.org/10.1016/0749-5978(85)90016-0 | en_US |
dc.identifier.source | Organizational Behavior and Human Decision Processes | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
Files in this item
Remediation of Harmful Language
The University of Michigan Library aims to describe library materials in a way that respects the people and communities who create, use, and are represented in our collections. Report harmful or offensive language in catalog records, finding aids, or elsewhere in our collections anonymously through our metadata feedback form. More information at Remediation of Harmful Language.
Accessibility
If you are unable to use this file in its current format, please select the Contact Us link and we can modify it to make it more accessible to you.