Seminars

Are policymakers ambiguity averse?

Economics & Decision Sciences

Speaker: Professor Loïc Berger
IESEG

26 October 2017 - HEC Campus - T Building - Room T017 - From 2:00 pm to 3:00 pm


We investigate the ambiguity preferences of a unique sample of real-life policymakers at the Paris UN climate conference (COP21). We find that policymakers are generally ambiguity averse. Using a simple design which explicitly makes the distinction between objective and subjective probabilities presented in different layers, we are moreover able to detect a strong association between preferences towards model uncertainty and those towards ambiguity. These results suggest that the preferences policymakers exhibit towards ambiguity are not necessarily due to an irrational behavior (such as the inability to reduce compound lotteries), but rather to intrinsic preferences over unknown probabilities, thus shedding new light on the role that ambiguity models can play in informing policymaking. Results are confirmed in a laboratory experiment with university students.

title : TBA

Economics & Decision Sciences

Speaker: Harry Di Pei
Northwestern

12 February 2019


title : TBA

Economics & Decision Sciences

Speaker: François Geerolf
UCLA

18 December 2018


title : TBA

Economics & Decision Sciences

Speaker: Marko Tervio
Aalto

13 December 2018


Title : TBA

Economics & Decision Sciences

Speaker: Olivier Deschenes
UCSB

29 November 2018


title : TBA

Economics & Decision Sciences

Speaker: Emmanuele Tarantino
Mannheim University

27 November 2018



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