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Record W4285218571 · doi:10.3982/ecta18137

Randomize at Your Own Risk: On the Observability of Ambiguity Aversion

2022· article· en· W4285218571 on OpenAlexafffund
Aurélien Baillon, Yoram Halevy, Chen Li

Bibliographic record

VenueEconometrica · 2022
Typearticle
Languageen
FieldDecision Sciences
TopicDecision-Making and Behavioral Economics
Canadian institutionsUniversity of Toronto
FundersErasmus Research Institute of ManagementSocial Sciences and Humanities Research Council of CanadaNederlandse Organisatie voor Wetenschappelijk OnderzoekErasmus Universiteit Rotterdam
KeywordsAmbiguityAmbiguity aversionObservabilityIncentiveRisk aversion (psychology)EconometricsIsolation (microbiology)Incentive compatibilityEconomicsHedgeExpected utility hypothesisMicroeconomicsMathematical economicsComputer scienceMathematicsApplied mathematics

Abstract

fetched live from OpenAlex

Facing several decisions, people may consider each one in isolation or integrate them into a single optimization problem. Isolation and integration may yield different choices, for instance, if uncertainty is involved, and only one randomly selected decision is implemented. We investigate whether the random incentive system in experiments that measure ambiguity aversion provides a hedge against ambiguity, making ambiguity‐averse subjects who integrate behave as if they were ambiguity neutral. Our results suggest that about half of the ambiguity averse subjects integrated their choices in the experiment into a single problem, whereas the other half isolated. Our design further enables us to disentangle properties of the integrating subjects' preferences over compound objects induced by the random incentive system and the choice problems in the experiment.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.013
metaresearch head score (Gemma)0.051
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Theoretical or conceptual · Consensus signal: Theoretical or conceptual
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.013
Threshold uncertainty score0.070

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0130.051
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.001
Bibliometrics0.0000.000
Science and technology studies0.0000.003
Scholarly communication0.0020.002
Open science0.0000.002
Research integrity0.0010.002
Insufficient payload (model declined to judge)0.0030.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.286
GPT teacher head0.378
Teacher spread0.091 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designTheoretical or conceptual
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations30
Published2022
Admission routes2
Has abstractyes

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