CMMU FACULTY MEMBER’S NEW PUBLICATION PUBLISHED IN JOURNAL INDEXED IN Q1 SCOPUS.

Research by CMMU faculty member Assoc. Prof. Dr. Roy Kouwenberg on people's attitudes towards uncertainty has been accepted by Management Science, a top management journal with very high impact (Scimago quartile Q1, with cites per doc of 3.1). The article is titled "Ambiguity Attitudes in a Large Representative Sample" and is a joint work with Prof. Peter Wakker of Erasmus University Rotterdam and Steve Dimmock of Nanyang Technological University in Singapore. This publication further strengthens CMMU position as a top business school in Thailand.

Most decisions in life involve so-called "unknown unknowns", uncertain events for which we do not know the exact probabilities. The accepted article introduces a new method for measuring people's attitudes towards uncertainty (ambiguity) and applies it in a large representative sample of the Dutch population. On average people are averse of ambiguity, meaning that they prefer making decisions with known probabilities (risk) compared to decision-making with unknown probabilities (ambiguity). However, the research also shows that most people are ambiguity seeking for low-likelihood events, such as the unlikely event that a new start-up company becomes very successful. The research then shows that people's ambiguity attitudes are related to real-life decisions, namely stock market participation and ownership of a private business.System.String[]