Second-Order Ambiguity in Very Low Probability Risks: Food Safety Valuation

作者：Kivi Paul A^*; Shogren Jason F

来源：Journal of Agricultural and Resource Economics, 2010, 35(3): 443-456.

• ambiguity
• ambiguity avoidance
• expected utility theory
• food safety
• low probability events
• risk
• second-order probabilities
• uncertainty

Food consumption involves inherently risky decisions with uncertain probabilities. This study examines how second-order ambiguity, or uncertainty over probabilities, affects food safety decisions. We conduct a food safety survey wherein subjects face both unambiguous and ambiguous situations, each with the same expected value. Respondents show a preference for unambiguous situations and state a willingness to pay to avoid ambiguity.

• 出版日期2010-12