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Ambiguity effect

The ambiguity effect is a cognitive tendency where decision making is affected by a lack of information, or "ambiguity". The effect implies that people tend to select options for which the probability of a favorable outcome is known, over an option for which the probability of a favorable outcome is unknown. The effect was first described by Daniel…

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Ambiguity effect

Nodes10
Edges9
Triples10
Avg. degree1.8
Density0.2
Components1

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Ambiguity effect

Top relations

related to Criticisms · 7
Ambiguity effect → An, Ellsberg, Ellsberg's, Ellsberg’s, Experimental, Individual, Loss-framing
is a · 1
Ambiguity effect → cognitive tendency where decision making is affected by a lack of information

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Important terminology

ambiguity effect probability individuals information probabilities black people aversion option uncertainty known unknown balls perceived lack outcomes career anchoring ambiguous

Entity relationships Subject–Predicate–Object triples

SubjectPredicateObjectConfidenceSrc
Ambiguity effectis acognitive tendency where decision making is affected by a lack of information0.90text
the artificiality of Ellsberg’s urn study potentially provides inaccurate measurement of the ambiguity effect on individualsinstance ofAn ambiguity-seeking individual may be more hopeful to incur a smaller loss with a larger unknown probability than a known probability of losing.Experimental limitations0.80text
limited application in real world contextsinstance ofAn ambiguity-seeking individual may be more hopeful to incur a smaller loss with a larger unknown probability than a known probability of losing.Experimental limitations0.80text
Ambiguity effectrelated to CriticismsEllsberg’s0.60section
Ambiguity effectrelated to CriticismsLoss-framing0.60section
Ambiguity effectrelated to CriticismsEllsberg's0.60section
Ambiguity effectrelated to CriticismsAn0.60section
Ambiguity effectrelated to CriticismsExperimental0.60section
Ambiguity effectrelated to CriticismsIndividual0.60section
Ambiguity effectrelated to CriticismsEllsberg0.60section

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