Klein, William M. P.; Cerully, Jennifer L.; Monin, … - In: Judgment and Decision Making 5 (2010) 3, pp. 192-199
Individuals are often ambiguity-averse when choosing among purely chance-based prospects (Ellsberg, 1961). However, they often prefer apparently ambiguous ABILITY-based prospects to unambiguous chance-based prospects. According to the competence hypothesis (Heath & Tversky, 1991), this pattern...
