Attitudes Towards Risk, Uncertainty and Ambiguity: Theory, Experimental Design and Econometrics
When it comes to choice under risk, uncertainty and ambiguity, there is a growing appreciation that neither theory, econometrics nor experimental design can live without each other. Theory and econometrics must respect the limits of subject attention, motivation and response set; skilled experimenters enter here. Theory and experimental design must understand that discrete choice is stochastic; econometricians spell out inferential consequences. And econometrics and experimental design feed on theorist’s ideas concerning both the deterministic and stochastic parts of choice. This workshop brings theorists, experimenters and econometricians together for discussion of one another’s imperatives. This conversation will continue with a complementary CEAR workshop on The Econometrics of Risk, January 11-12, 2011.