June 20, 2013 / 23:37
tamed monsters series: the ambiguity effect
The ambiguity effect is a cognitive bias where decision making is affected by a lack of information, or «ambiguity». The effect implies that people tend to select options for which the probability of a favorable outcome is known, over an option for which the probability of a favorable outcome is unknown.
© 2007—2019 Lena Revenko