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DO WE ALWAYS PREFER THE DEVIL WE KNOW? SOCIAL INFLUENCE ON AMBIGUITY AVERSION
Abstract
People strongly prefer options with exact probabilities of outcomes to those with uncertain probabilities, expressing ambiguity aversion. Its manifestations are reflected in various domains of real-life decisions, particularly among monetary choices. Recent research suggests amplification of ambiguity avoidance under social influence, however with several methodological limitations. Therefore, we tested the effects of accountability and responsibility on aversion towards ambiguity in two between-subject experiments (N = 257). Contrary to previous evidence, we found no support for the effect of expected social consequences on frequency of ambiguity-averse choices.
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