We conduct a bibliometric analysis and review the literature of the last six decades on
ambiguity aversion. Comparing trends in theoretical, experimental, and empirical …

We introduce ambiguity in conjunction with risk to study the relation between risk, ambiguity,
and expected returns. Distinguishing between ambiguity and attitudes toward ambiguity, we …

This paper investigates whether and how financial literacy could help improve fraud
detection. Results demonstrate that fraud-detection ability increases with the improvement in …

We relate time-varying aggregate ambiguity about volatility (V-VSTOXX) to individual
investor trading. We use the trading records of more than 100,000 individual investors from a …

Abstract Research Summary This paper examines how reward‐based crowdfunding
backers respond to risk disclosures. Combining theoretical frameworks from financial …

Rationally justifying Bitcoin's immense price fluctuations has remained a persistent
challenge for both investors and researchers in this field. A primary reason is our potential …

We examine the impact of ambiguity, or Knightian uncertainty, on the capital structure
decision, using a static tradeoff theory model in which agents are both ambiguity and risk …

We explore the implications of ambiguity for the pricing of credit default swaps (CDSs). A
model of heterogeneous investors with independent preferences for ambiguity and risk …

We explore whether uncertainty avoidance, an important aspect of national culture,
influences the level of informativeness of share prices about future earnings. Uncertainty …

We match administrative panel data on portfolio choices with survey data on preferences
over ambiguity. We show that ambiguity averse investors bear more risk, due to a lack of …