Roca, Mercè; Hogarth, Robin; Maule, A. - In: Journal of Risk and Uncertainty 32 (2006) 3, pp. 175-194
Several factors affect attitudes toward ambiguity. What happens, however, when people are asked to exchange an ambiguous alternative in their possession for an unambiguous one? We present three experiments in which individuals preferred to retain the former. This status quo bias emerged both...