The Ambiguity Triangle: Uncovering Fundamental Patterns of Behavior Under Uncertainty

Burghart, Daniel R.; Epper, Thomas; Fehr, Ernst

doi:10.2139/ssrn.2625529

Cited by 4 publications

(1 citation statement)

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“…A recent study utilizing the three different types of uncertainty found out the culture influences on the way entrepreneur deals with uncertainty in the context of supplier-entrepreneur relationship (Liu & Almor, 2016). Finally, a working paper by Burghart et al (2015) examines the links between expected utility theory and revealed preferences for (or against) ambiguity; the authors find preference heterogeneity among 60% of research subjects concerning their attitude toward uncertainty, lending weight to the notion that uncertainty should be viewed as a multidimensional phenomenon. 3 In this study, the notion of uncertainty is transposed to perceived ambiguity, which can be influenced by both individual-level and institutionallevel factors, while the perceived ambiguity itself plays the role of a mediator in entrepreneurial decision-making.…”

Section: Perceived Level Of Ambiguitymentioning

confidence: 99%

Effectuation Spectra in Chinese High-Tech Entrepreneurship: Domain-Specific Logic Orientations and Cross-Border M&A

Liu¹,

Isaak²

2016

Technology, Innovation, Entrepreneurship and Competitive Strategy

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As the developing nations grow and experience rapid institutional transformation, research has begun to investigate the roles of culture, cognition and institutional context on entrepreneurship and innovation. This chapter aims to advance the entrepreneurial cognition literature by juxtaposing entrepreneurial effectuation, domain-specific expertise and ambiguity. By conducting a qualitative study of Chinese high-tech domestic and returnee entrepreneurs, the authors propose a spectrum between causation and effectuation and argue that the entrepreneur's perceived level of ambiguity may better explain differing logic orientations among

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Section: Perceived Level Of Ambiguitymentioning

confidence: 99%

Effectuation Spectra in Chinese High-Tech Entrepreneurship: Domain-Specific Logic Orientations and Cross-Border M&A

Liu¹,

Isaak²

2016

Technology, Innovation, Entrepreneurship and Competitive Strategy

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An experimental test of the predictive power of dynamic ambiguity models

Georgalos

2019

J Risk Uncertain

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In this paper we report results from an economic experiment where we investigate the predictive performance of dynamic ambiguity models in the gains domain. Representing ambiguity with the aid of a transparent and non-manipulable device (a Bingo Blower) and using two-stage allocation questions, we gather data that allow us to estimate particular parametric forms of the various functionals and compare their relative performance in terms of out-of-sample fit. Our data show that a dynamic specification of Prospect Theory has the best predictive capacity, closely followed by Choquet Expected Utility, while multiple priors theories can predict choice only for a very restricted subset of our subjects.

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Maximum probabilities, information, and choice under uncertainty

Burghart

2018

Economics Letters

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The Ambiguity Triangle: Uncovering Fundamental Patterns of Behavior Under Uncertainty

Cited by 4 publications

References 50 publications

Effectuation Spectra in Chinese High-Tech Entrepreneurship: Domain-Specific Logic Orientations and Cross-Border M&A

Effectuation Spectra in Chinese High-Tech Entrepreneurship: Domain-Specific Logic Orientations and Cross-Border M&A

An experimental test of the predictive power of dynamic ambiguity models

Maximum probabilities, information, and choice under uncertainty

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