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?:abstract
  • This paper aims at assessing cultural differences in uncertainty attitude across Europe. Weselect questions from the European Values Survey (EVS) capturing salient features ofuncertain scenarios (‘‘safe versus uncertain”, ‘‘freedom of choice” and ‘‘reduction of uncertainty”),and formalize these questions through simple decision-theoretic problems. Wethen consider three competing normative models of choice under uncertainty (subjectiveexpected utility (SEU), maximin utility and minimax regret), and analyze how they behavewhen facing each decision problem. We obtain theoretical predictions and, using the EVSdataset, we test them via latent class analysis to estimate the distribution of these behaviorsacross EU15. We find a larger proportion of SEU maximizers (Bayesians) in northerncountries than in southern countries. The opposite is true for maximin utility behavior.Only a few are consistent with minimax regret behavior. (xsd:string)
?:author
?:comment
  • (EVS) (xsd:string)
?:dataSource
  • EVS-Bibliography (xsd:string)
?:dateModified
  • 2010 (xsd:gyear)
?:datePublished
  • 2010 (xsd:gyear)
?:duplicate
is ?:hasPart of
?:isPartOf
?:issueNumber
  • 31 (xsd:string)
is ?:mainEntity of
?:name
  • Decision makers facing uncertainty: Theory versus evidence (xsd:string)
?:publicationType
  • article (xsd:string)
?:sourceInfo
  • Bibsonomy (xsd:string)
  • In Journal of Economic Psychology(31), 2010 (xsd:string)
?:studyGroup
  • European Values Study (EVS) (xsd:string)
?:tags
  • 2010 (xsd:string)
  • EVS (xsd:string)
  • EVS_input2014 (xsd:string)
  • EVS_pro (xsd:string)
  • FDZ_IUP (xsd:string)
  • SCOPUSindexed (xsd:string)
  • SSCIindexed (xsd:string)
  • article (xsd:string)
  • checked (xsd:string)
  • indexproved (xsd:string)
  • input2014 (xsd:string)
  • reviewed (xsd:string)
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