Ambiguity attitudes in qualitative contexts: The role of prior beliefs

Abstract

Most studies of ambiguity aversion rely on experimental paradigms involving monetary bets. Thus, the extent to which ambiguity aversion occurs outside of such contexts is much less understood, particularly when the situation cannot easily be reduced to numerical terms. The present work seeks to understand whether people prefer to avoid ambiguous decisions in a variety of different qualitative domains (e.g., work, family, love, friendship, exercise, study, and health), and, if so, to determine the role played by prior beliefs in those domains. Across three studies, we presented participants with 24 vignettes and measured the degree to which they preferred risk to ambiguity in each. We also as..