Ambiguity aversion
A readiness to choose the option with known probabilities even when its expected result is worse — anything rather than deal with uncertainty that cannot be measured.
How to read the number
It explains why a familiar instrument with a computed risk is preferred to an unfamiliar one: measurability is reassuring regardless of what the measured quantity turns out to be.
When the metric lies
The precision of a risk estimate gets confused with its size. An instrument whose dispersion is easy to compute is no safer for it — what gets counted is simply what lends itself to counting.
Also known as: aversion to unmeasurable uncertainty