How people form beliefs is crucial for understanding decision-making under uncertainty. This is particularly true in a … situation such as a pandemic, where beliefs will affect behaviors that impact public health as well as the aggregate economy. We … information people choose to consume and how they incorporate this information into their beliefs. In the first experiment, people …

This paper studies how people make decisions over preventive behaviors under ambiguity (i.e., Knightian uncertainty … uncertainty makes it hard to evaluate not only whether one will be infected, but also other statistics such as the mortality rate … scientific uncertainty on COVID-19. We found that higher uncertainty increased the level of social distancing among ambiguity …

events that are each somewhat unique cause unforeseeable change and Knightian uncertainty in the process driving outcomes …

historically unique events cause unforeseeable change and Knightian uncertainty in the process driving outcomes. Expectations …

likelihood of ambiguous events. In addition, although they perform better with uncertainty related to the stock market, they show … the need for debiasing strategies for medical professionals in the face of real-world uncertainty …

likelihood of ambiguous events. In addition, although they perform better with uncertainty related to the stock market, they show … the need for debiasing strategies for medical professionals in the face of real-world uncertainty …

decision in the absence of ambiguity. We then show that uncertainty about the probability of side effects and the efficacy of … the vaccine always reduce take-up under ambiguity aversion. However, uncertainty about the underlying disease, being the … results are relevant for policy because reducing uncertainty associated with the vaccine always has the de-sired effect …