Risks are known and estimable threats; ambiguities are places where outcomes both positive and negative are unknown. The traditional school of thought tells us that human beings are averse to ambiguity and will avoid it as much as possible. However, ambiguity aversion is one of those decision-making models that test well in laboratories but break down when brought into the real world where decisions are more complex and probabilities less clearly defined. Specifically when the decision involves multiple attributes, a positive framing of the problem can flip people’s behavior from
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