A tale of two ambiguities: a conceptual overview of findings from economics and psychology

Ambiguity seems to be … an ambiguous concept. While it has received attention from researchers from many disciplines, scientists from different backgrounds have put forward many divergent, often vague and contrasting definitions of ambiguity. This conceptual impasse has obstructed cross-fertilization of the literature from different disciplines and has slowed the convergence of the results. Here, we examine the literature from economics and psychology and trace a granular map of intellectual knowledge on ambiguity. We highlight recent theoretical developments that could offer a unifying frame of reference for the study of ambiguity. Finally, we discuss the importance of ambiguity in educational choices during the Covid-19 pandemic.