Recent advances in decision making have incorporated both risk and ambiguity in decision
theory and optimization methods. These methods implement a variety of uncertainty …

A donation may have ambiguous costs or ambiguous benefits. Behavior in a laboratory
experiment suggests that individuals use this ambiguity strategically as a moral wiggle room …

This paper studies the role of ambiguity and managerial ability in firm growth options from
the perspective of behavioural theory. We argue that managerial ability increases both the …

Prior beliefs and their updating play a crucial role in decisions under uncertainty, and
theories about them have been well established in classical Bayesianism. Yet, they are …

Uncertainty lies at the heart of everyday choices, affecting both decisions about precise
quantities and those with less tangible, more qualitative, outcomes. Previous literature on …

We empirically show that sample information not only moderates prospects' outcome
ambiguity but also decision makers' revealed aversion of them. Since most natural prospects …

Abstract The Ambiguity Box is a software tool that visualizes uncertainty in laboratory
experiments. It is a dynamic frame composed of squares that randomly change colours …

Uncertainty, particularly distribution uncertainty (aka ambiguity), holds significant relevance
in both academic research and practical applications. Much of the existing research …

People face ambiguity in many domains. How likely is it that the return on a portfolio of
stocks is larger than some threshold for a certain horizon? What are the odds that an offered …

Committees of experts are widely used to make decisions. We experimentally investigate the
relationship between decision making in committees and the assessment of the ability of …