This article documents the economic relevance of measuring cognitive uncertainty: people's
subjective uncertainty over their ex ante utility-maximizing decision. In a series of …

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

Increasingly, a wide variety of actors describe climate change as urgent. Urgency arises
when the time available for making a decision is short—relative to task complexity and the …

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 …

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

We conduct two survey experiments to study which information people choose to consume
and how it affects their beliefs. In the first experiment, respondents choose between …

Decisions to trust in strategic situations involve ambiguity (unknown probabilities). Despite
many theoretical studies on ambiguity in game theory, empirical studies have lagged behind …

We propose a class of multiple‐prior representations of preferences under ambiguity, where
the belief the decision‐maker (DM) uses to evaluate an uncertain prospect is the outcome of …

Ordering alternatives by their degree of ambiguity is crucial in economic and financial
decision-making processes. To quantify the degree of ambiguity, this paper introduces an …

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 …