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DO WE ALWAYS PREFER THE DEVIL WE KNOW? SOCIAL INFLUENCE ON AMBIGUITY AVERSION

Lenka Kostovicova

First published: 2014https://doi.org/10.5593/sgemsocial2014/B11/S1.018View metrics

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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Publication details

Title
DO WE ALWAYS PREFER THE DEVIL WE KNOW? SOCIAL INFLUENCE ON AMBIGUITY AVERSION
Authors
Lenka Kostovicova
Proceedings
Proceedings of 1st International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM2014
Publisher
STEF92 Technology
Year
2014
Pages
129-136
SWS Citekey
Kostovicova20146129136
ISSN
2367-5659
ISBN
978-619-7105-22-3
Language
en
Publication type
Proceedings Paper
Keywords
ambiguity aversionsocial influenceaccountabilityresponsibilityBayes factor
References1

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