Distinguishing Two Forms of Consumer Uncertainty

We show that consumers reliably distinguish epistemic (knowledge-based) uncertainty from aleatory (stochastic) uncertainty in their rating of events. These ratings predict evaluations of credit/blame and luckiness/unluckiness for good/bad outcomes and mediate hindsight bias. Moreover, consumers tend to make higher budget estimates concerning epistemic uncertainty, especially when they feel more knowledgeable.


Gülden Ülkümen, David Tannenbaum , and Craig Fox (2013) ,"Distinguishing Two Forms of Consumer Uncertainty", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research, Pages: .


Gülden Ülkümen, University of Southern California, USA
David Tannenbaum , University of California Los Angeles, USA
Craig Fox , University of California Los Angeles, USA


NA - Advances in Consumer Research Volume 41 | 2013

Share Proceeding

Featured papers

See More


C1. Promoting Subjective Preferences in Simple Choices During Sleep

Sizhi Ai, First Affiliated Hospital of Xinxiang Medical University
Yunlu Yin, University of Hong Kong
Yu Chen, Peking University
Lin Lu, Peking University
Lusha Zhu, Peking University
Jie Shi, Peking University

Read More


When CSR Becomes a Liability for Firms in Crises: Effects on Perceived Hypocrisy and Consumer Forgiveness

Argiro Kliamenakis, Concordia University, Canada
H. Onur Bodur, Concordia University, Canada

Read More


When Novices have more Influence than Experts: Empirical Evidence from Online Peer Reviews

Peter Nguyen, Ivey Business School
Xin (Shane) Wang, Western University, Canada
Xi Li, City University of Hong Kong
June Cotte, Ivey Business School

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.