competence hypothesis (Heath & Tversky, 1991), this pattern derives from favorable perceptions of one's competence. In most past … tests of the competence hypothesis, ambiguity is confounded with personal controllability and the source of the ambiguity (e … effects of both ambiguity aversion and competence. In Experiment 1, participants preferred an unambiguous chance-based option …

in the domain of risky choice, and many theories of ambiguity aversion deal with ambiguity only in this context. However … choice. Subjects imagine they are expecting a package and must choose between two delivery options. Some delivery times are … service preferred when it was the unambiguous option. Ambiguity aversion is not specific to risk, but can also occur in other …