We apply a model of preferences for information to the domain of decision making under risk and ambiguity. An uncertain … unpleasant to think about, an individual tends to be averse to risk and ambiguity. Yet in circumstances in which thinking about … an information gap is pleasant, an individual may exhibit risk- and ambiguity-seeking. The model provides explanations …

outcomes after the search. The players' reservation value tends to decrease with their level of risk aversion. We propose a … this scenario, risk-averse players tend to increase their reservation value and extend their search duration. We also test … our theory in a laboratory experiment with a search game to track subjects' behavior and use a multiple price list and a …