A tale of two ambiguities: A conceptual overview of findings from economics and psychology

Milos Borozan (), Loreta Cannito and Barbara Luppi
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Milos Borozan: Center for Advanced Studies and Technologies (C.A.S.T.) and Department of Neuroscience, Imaging e Clinical Sciences (DNISC), d'Annunzio University of Chieti-Pescara
Loreta Cannito: Center for Advanced Studies and Technologies (C.A.S.T.) and Department of Psychological Sciences, Health and Territory (DiSpuTer), d'Annunzio University of Chieti-Pescara
Barbara Luppi: Department of Economics Marco Biagi, University of Modena and Reggio Emilia

Journal of Behavioral Economics for Policy, 2022, vol. 6, issue S1, 11-21

Abstract: Ambiguity seems to be ... an ambiguous concept. While it has received attention from researchers from many disciplines, scientists from different backgrounds have put forward divergent, often vague and contrasting definitions of ambiguity. This conceptual impasse has somewhat obstructed cross-fertilization of insights across disciplines and has slowed the convergence of the results. Here, we examine the literature from economics and psychology, trace a map of intellectual knowledge on ambiguity in both disciplines and highlight open questions. Finally, we discuss some recent theoretical developments that could offer a unifying frame of reference for the study of ambiguity.

Keywords: ambiguity; uncertainty; ambiguity aversion; ambiguity intolerance (search for similar items in EconPapers)
JEL-codes: D80 D81 D91 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:beh:jbepv1:v:6:y:2022:i:s1:p:11-21

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