We build a general equilibrium model of occupation choice, where the risks inherent in a technology embodying a new innovation are only vaguely known (ambiguous), whereas the old technology has known risks. Using the Arrow-Hurwicz criterion to characterise decisionmaking in the face of ambiguity, we distinguish agents according to their degree of ambiguity aversion. Equilibrium requires that al...

The article describes the relationship between tolerance for ambiguity and socio-psychological characteristic of managers. Statistically relevant correlations have been identified. The findings have practical value.

Understanding and embracing uncertainty are critical for effective teacher–learner relationships as well as for shared decisionmaking in the physician–patient relationship. However, ambiguity has not been given serious consideration in either the undergraduate or graduate medical curricula or in the role it plays in patient-centered care. In this article, the author examines the ethics of ambig...