Uncertainty, its antecedents and consequences, is a highly investigated topic in economics, psychology, and marketing. Understandably so, as in modern society people are constantly confronted with uncertainty: In their daily shopping decisions, their careers, and their family dynamics. Learning to negotiate and cope with uncertainty has thus become a requirement of modern life.
Uncertainty is generally defined as a lack of knowledge. To date, most research in marketing and decision-making has focused on uncertainty due to choice alternatives. Because of incomplete information, people feel uncertain about the alternatives available and the u....