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The Virtual Bingo Blower : An opensource tool to generate ambiguity and risk in experiments

Andersson, Ola ; Castillo, Geoffrey and Wengström, Erik LU (2024) In Working Papers
Abstract
We propose the Virtual Bingo Blower (VBB) as a way to generate
credible risk and ambiguity in computerized experiments. Using a
physics engine—a computer simulation of a physical system—the VBB
simulates a conventional bingo blower. Different aspects of the VBB,
such as the number of balls, their color, and their speed, can be easily
modified. In an online experiment, we measure ambiguity attitudes and
vary the source of ambiguity, using either the VBB or natural events.
We find that the VBB and natural events result in a similar degree of
ambiguity aversion. Further, we find that, by manipulating the number
of balls, the VBB can be used to manipulate the perceived level of
ambiguity.
Please use this url to cite or link to this publication:
author
; and
organization
publishing date
type
Working paper/Preprint
publication status
published
subject
keywords
ambiguity, risk, bingo blower, online experiment, experimental tools, randomization, C91, D81
in
Working Papers
issue
2024:8
pages
33 pages
language
English
LU publication?
yes
id
2f902092-d2c1-441d-b6c2-7eb32ebbb37f
date added to LUP
2024-09-30 08:24:56
date last changed
2025-04-04 14:39:19
@misc{2f902092-d2c1-441d-b6c2-7eb32ebbb37f,
  abstract     = {{We propose the Virtual Bingo Blower (VBB) as a way to generate<br/>credible risk and ambiguity in computerized experiments. Using a<br/>physics engine—a computer simulation of a physical system—the VBB<br/>simulates a conventional bingo blower. Different aspects of the VBB,<br/>such as the number of balls, their color, and their speed, can be easily<br/>modified. In an online experiment, we measure ambiguity attitudes and<br/>vary the source of ambiguity, using either the VBB or natural events.<br/>We find that the VBB and natural events result in a similar degree of<br/>ambiguity aversion. Further, we find that, by manipulating the number<br/>of balls, the VBB can be used to manipulate the perceived level of<br/>ambiguity.}},
  author       = {{Andersson, Ola and Castillo, Geoffrey and Wengström, Erik}},
  keywords     = {{ambiguity; risk; bingo blower; online experiment; experimental tools; randomization; C91; D81}},
  language     = {{eng}},
  note         = {{Working Paper}},
  number       = {{2024:8}},
  series       = {{Working Papers}},
  title        = {{The Virtual Bingo Blower : An opensource tool to generate ambiguity and risk in experiments}},
  url          = {{https://lup.lub.lu.se/search/files/196060383/WP24_8.pdf}},
  year         = {{2024}},
}