People Tend To Select Options For Which The Probability Of A Favorable Outcome

People Tend To Select Options For Which The Probability Of A Favorable Outcome

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. This cognitive bias is called the “Ambiguity Effect”.

Study Link – https://en.wikipedia.org/wiki/Ambiguity_effect

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