This paper studies how audience members categorize and evaluate ambiguous offerings. Depending on whether offerings based prototypes or goals, they activate two distinct cognitive mechanisms differently We expect that when audiences engage in goal- versus prototype-based categorization, their evaluation of products increases. theorize that, under goal-based the perceived utility unclear attribu...

Standard economic models cannot capture the fact that information is often ambiguous, and is interpreted in multiple ways. Using a framework that distinguishes between the language in which statements are made and the interpretation of statements, we show that ambiguity can have important consequences. We show that players can agree to disagree in the presence of ambiguity, even if there is a c...