Theory and Decision 69 (3):355-373 (2010)
AbstractThis article provides an experimental analysis of attitude toward imprecise and variable information. Imprecise information is provided in the form of a set of possible probability values, such that it is virtually impossible for the subjects to guess or estimate, which one in the set is true or more likely to be true. We investigate how geometric features of such information pieces affect choices. We find that the subjects care about more features than the pairs of best-case and worst-case, which is a counter-evidence to the well-known models, maximin and α-maximin. We find that presence of nonextreme points in the set affects choice, which suggests that attitude toward imprecision is ‘nonlinear.’ We also obtain an observation, though not significant, that information pieces have a complementarity that may not be explained by the Bayesian view
Similar books and articles
Are beliefs a matter of taste? A case for Objective Imprecise Information.Raphaël Giraud & Jean-Marc Tallon - 2011 - Theory and Decision 71 (1):23-32.
Decisions with conflicting and imprecise information.Thibault Gajdos & Jean-Christophe Vergnaud - unknown
Ambiguity Aversion in the Field of Insurance: Insurers' Attitude to Imprecise and Conflicting Probability Estimates. [REVIEW]Laure Cabantous - 2007 - Theory and Decision 62 (3):219-240.
Quasi-Bayesian Analysis Using Imprecise Probability Assessments And The Generalized Bayes' Rule.Kathleen M. Whitcomb - 2005 - Theory and Decision 58 (2):209-238.
Against Radical Credal Imprecision.Susanna Rinard - 2013 - Thought: A Journal of Philosophy 2 (1):157-165.
The philosophy of information as a conceptual framework.Luciano Floridi - 2010 - Knowledge, Technology & Policy 23 (1-2):1-31.
Some Varieties of Information.Jaakko Hintikka - 1984 - Information Processing and Management 20 (1-2):175-181.
Information: Does it have to be true? [REVIEW]James H. Fetzer - 2004 - Minds and Machines 14 (2):223-229.
Information deprivation as a motivational variable.Austin Jones, H. Jean Wilkinson & Ina Braden - 1961 - Journal of Experimental Psychology 62 (2):126.
Added to PP
Historical graph of downloads
Citations of this work
An experimental investigation of imprecision attitude and its relation with risk attitude and impatience.Michèle Cohen, Jean-Marc Tallon & Jean-Christophe Vergnaud - 2011 - Theory and Decision 71 (1):81-110.
When and how to satisfice: an experimental investigation.John D. Hey, Yudistira Permana & Nuttaporn Rochanahastin - 2017 - Theory and Decision 83 (3):337-353.
An experimental test of a search model under ambiguity.Takao Asano, Hiroko Okudaira & Masaru Sasaki - 2015 - Theory and Decision 79 (4):627-637.
Are individuals more risk and ambiguity averse in a group environment or alone? Results from an experimental study.Marielle Brunette, Laure Cabantous & Stéphane Couture - 2015 - Theory and Decision 78 (3):357-376.
The strength of sensitivity to ambiguity.Robin Cubitt, Gijs van de Kuilen & Sujoy Mukerji - 2018 - Theory and Decision 85 (3-4):275-302.
References found in this work
Known, Unknown, and Unknowable Uncertainties.Rakesh K. Sarin & Clare Chua Chow - 2002 - Theory and Decision 52 (2):127-138.
Known, Unknown, and Unknowable Uncertainties.Clare Chua Chow & Rakesh Sarin - 2002 - Theory and Decision 52 (2):127-138.