Uncertainty effect
id:
uncertainty-effect-314-2449406
title:
Uncertainty effect
text:
The uncertainty effect, also known as direct risk aversion, is a phenomenon from economics and psychology which suggests that individuals may be prone to expressing such an extreme distaste for risk that they ascribe a lower value to a risky prospect than its worst possible realization. For example, in the original work on the uncertainty effect by Uri Gneezy, John A. List, and George Wu (2006), individuals were willing to pay $38 for a $50 gift card, but were only willing to pay $28 for a lotte
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Uncertainty_effect
date created:
date modified:
2024-01-04T06:33:55Z
main entity:
{"identifier":"Q115867167","url":"https://www.wikidata.org/entity/Q115867167"}
image:
fields total:
13
integrity:
13