Uncertainty is a key contextual factor that affects the decision-making of multinational corporations on many types of international operation. However, the variety of ways in which uncertainty has been defined and studied in the international business literature, has contributed to a fragmented...

Following Kreps (1979), I consider a decision maker who is uncertain about her future taste. This uncertainty leaves the decision maker with a preference for flexibility: When choosing among menus containing alternatives for future choice, she weakly prefers menus with additional alternatives....