The Effect of Communicating Ambiguous Risk Information on Choice

Decision makers are frequently confronted with ambiguous risk information about activities with potential hazards. This may be a result of conflicting risk estimates from multiple sources or ambiguous risk information from a single source. The paper considers processing ambiguous risk information and its effect on the behavior of a decision maker with a-maximin expected utility preferences. The effect of imprecise risk information on behavior is related to the content of information, the decision maker’s trust in different sources of information, and his or her aversion to ambiguity.


Issue Date:
2011-08
Publication Type:
Journal Article
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/117170
PURL Identifier:
http://purl.umn.edu/117170
Published in:
Journal of Agricultural and Resource Economics, 36, 2
Page range:
292-312
Total Pages:
21




 Record created 2017-04-01, last modified 2020-10-28

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