Aggarwal, Divya; Damodaran, Uday; Mohanty, Pitabas; … - In: Review of Behavioral Finance 14 (2021) 5, pp. 733-750
Purpose: This study examines individual ambiguity attitudes alone and in groups by leveraging the descriptive model of anchoring and adjustment on decision-making under ambiguity. The study extends Ellsberg's probability ambiguity to outcome ambiguity and examines decisions made under both...