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...

This book on uncertainty comprises the initial volume in a series titled “New Horizons in Managerial and Organizational Cognition”. We asked Frances Milliken and Gerard P. Hodgkinson, two well-known scholars who have made important contributions to our understanding of uncertainty to join us...