Question

Explain the difference between risk and ambiguity. How might decision making differ for a risky versus an “ambiguous” situation? ​

Answer 1

Explanation:

Risk is a situation of exposing something into danger, loss, or harm. Ambiguity is a situation where you have more than one interpretation leading to confusion and vagueness. The difference between risk and uncertainty is that the outcomes of risks are known while ambiguity is unknown.

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Answer 2

Explanation:

Risk is a situation of exposing something into danger, loss, or harm. Ambiguity is a situation where you have more than one interpretation leading to confusion and vagueness. The difference between risk and uncertainty is that the outcomes of risks are known while ambiguity is unknown