Files
Abstract
Decision makers are frequently confronted with ambiguous risk information about activities with
potential hazards. This may be a result of conflicting risk estimates from multiple sources or
ambiguous risk information from a single source. The paper considers processing ambiguous risk
information and its effect on the behavior of a decision maker with a-maximin expected utility
preferences. The effect of imprecise risk information on behavior is related to the content of
information, the decision maker’s trust in different sources of information, and his or her aversion
to ambiguity.