TY  - UNPD
A1  - Butler, Jeffrey V.
A1  - Guiso, Luigi
A1  - Jappelli, Tullio
T1  - Manipulating reliance on intuition reduces risk and ambiguity aversion
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2013,13
N2  - Prior research suggests that those who rely on intuition rather than effortful reasoning when making decisions are less averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of causality. In this paper, we present experimental evidence of causation running from reliance on intuition to risk and ambiguity preferences. We directly manipulate participants’ predilection to rely on intuition and find that enhancing reliance on intuition lowers the probability of being ambiguity averse by 30 percentage points and increases risk tolerance by about 30 percent in the experimental sub-population where we would a priori expect the manipulation to be successful(males).
T3  - CFS working paper series - 2013, 13 
KW  - risk aversion
KW  - ambiguity aversion
KW  - decision theory
KW  - dual systems
KW  - intuitive thinking
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/32490
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-324909
PB  - Center for Financial Studies
CY  - Frankfurt, M.
ER  -