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and information, as well as the degree of complexity, volatility and uncertainty the firm is exposed to. With our …
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circle: (i) increasing complexity; (ii) wicked characteristics of policies; (iii) heigthening role of psychological factors …
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We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects prefer a risky act to an ambiguous act that always...
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