Testing whether risk professionals (here insurers) behave differently under risk and ambiguity when they cover … experiment in the United States designed to distinguish two sources of ambiguity: imprecise ambiguity (outside experts agree on a … range of probability, but not on any point estimate) versus conflict ambiguity (each expert group provides precise …

risk, subjects who score high on ambiguity tolerance explain some of the remainder of trusting behavior. …

Sources of uncertainty appear to affect attitude towards ambiguity. For instance, when two advisors agree on a range of … the same. This study draws upon prospect theory and ambiguity research to empirically test how sources of uncertainty …. revealed beliefs). Findings support the predictions that the source of ambiguity matters in particular for low and high …

With this research, we contribute to the study of ambiguity by analyzing how it can be handled in a rational, objective … offers a simple model and approach to consider as benchmarks when assessing the impact of an ambiguity level of information … against cases where more precise information is available. We identify the many costs of ambiguity, including direct absolute …