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Cited by 1,022

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

Ambiguity Aversion and Comparative Ignorance

Fox, C. R., Tversky, A.·1995·The Quarterly Journal of Economics

Abstract

Decisions under uncertainty depend not only on the degree of uncertainty but also on its source, as illustrated by Ellsberg's observation of ambiguity aversion. In this article we propose the comparative ignorance hypothesis, according to which ambiguity aversion is produced by a comparison with less ambiguous events or with more knowledgeable individuals. This hypothesis is supported in a series of studies showing that ambiguity aversion, present in a comparative context in which a person evaluates both clear and vague prospects, seems to disappear in a noncomparative context in which a person evaluates only one of these prospects in isolation.

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Metadata

Authors
Fox, C. R., & Tversky, A.
Venue
The Quarterly Journal of Economics
Published
1995-08-01
Volume
110
Issue
3
Pages
585-603
ISSN
  • 0033-5533 (ISSN-L)
  • 1531-4650
OpenAlex
W2144810549
Cited by
1,022
References
3
FWCI
2.25
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Ambiguity Aversion and Comparative Ignorance. https://app.cochat.ai/papers/10.2307/2946693
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Fox, C. R., & Tversky, A. (1995). Ambiguity Aversion and Comparative Ignorance. The Quarterly Journal of Economics. https://doi.org/10.2307/2946693

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