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 …

In this paper, I examine the impact of ambiguity (Knightian uncertainty), alongside that of risk, on firms’ voluntary … disclosure decisions. I confirm the well-known result that an increase in risk— uncertainty over outcomes—is associated with an … which risk impacts managers’ disclosure decisions have been extensively studied in the accounting literature, no extant …