What I don’t know won’t hurt me? Decisionmaking under ambiguity compared to decisions under risk

Scientific Study from the year 2014 in the subject Psychology - General, grade: 1,3, Ruhr-University of Bochum (Kognitive Neurowissenschaften), course: Bachelor-Arbeit, language: English, abstract: A new game was invented to analyse the risk pattern during decisions under ambiguity, where the risk is not known, and compare it to the risk patterns of decisions under uncertainty, where the chance level is known. Statistical analysis where used to specify the ambigious decison. Additionally, a counterbalanced repeated measure design was used, where Stress was induced used the Social Evaluated Cold water pressure test under condition A, and a placebo warm water condotion under condition B. There was no effect of Stress on the decision visible. Relevance of the effects are discussed. The new decison game offer in its logic a highly innovative way of exploring the till now unknow specific risk pattern of amigious decisions.