Abstract
It is shown that decision makers guided by Popperian epistemology will have a preference for transparency, even in situations where standard economic theory provides no rationale for such a preference. This provides a Popperian resolution of the Ellsberg paradox, and a rationale for suspicion in experiments as well as in economic life.
| Original language | English |
|---|---|
| Pages (from-to) | 349-56 |
| Journal | Journal of Economic Behavior and Organization |
| Volume | 37 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 1998 |
Subject classification (UKÄ)
- Economics
Free keywords
- Transparency
- Refutability
- Ellsberg paradox
- Suspicion
- Uncertainty aversion