Weber, Bethany J.; Tan, Wah Pheow - In: Judgment and Decision Making 7 (2012) 4, pp. 383-389
service preferred when it was the unambiguous option. Ambiguity aversion is not specific to risk, but can also occur in other …Decision makers are often ambiguity averse, preferring options with subjectively known probabilities to options with … unknown probabilities. The Ellsberg paradox is the best-known example of this phenomenon. Ambiguity has generally been studied …