This paper utilizes a unique data set to explore whether uncertainty about arbitration influences the likelihood that negotiators use it. We use experimental data on decisions made by arbitrators in hypothetical scenarios to calculate a measure of uncertainty for each arbitrator. These data are...

Privacy decision making has been examined from various perspectives. A dominant “normative” perspective has focused on rational processes by which consumers with stable preferences for privacy weigh the expected benefits of privacy choices against their potential costs. More recently, an...

We apply a model of preferences for information to the domain of decision making under risk and ambiguity. An uncertain prospect exposes an individual to an information gap. Gambling makes the missing information more important, attracting more attention to the information gap. To the extent...

Virtually all current theories of choice under risk or uncertainty are cognitive and consequentialist. They assume that people assess the desirability and likelihood of possible outcomes of choice alternatives and integrate this information through some type of expectation-based calculus to...