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In cross-cultural psychology, uncertainty avoidance is how cultures differ on the amount of tolerance they have of unpredictability. [1] Uncertainty avoidance is one of five key qualities or dimensions measured by the researchers who developed the Hofstede model of cultural dimensions to quantify cultural differences across international lines and better understand why some ideas and business ...
Uncertainty avoidance (UAI): The uncertainty avoidance index is defined as "a society's tolerance for ambiguity", in which people embrace or avert an event of something unexpected, unknown, or away from the status quo. Societies that score a high degree in this index opt for stiff codes of behavior, guidelines, laws, and generally rely on ...
In decision theory and economics, ambiguity aversion (also known as uncertainty aversion) is a preference for known risks over unknown risks.An ambiguity-averse individual would rather choose an alternative where the probability distribution of the outcomes is known over one where the probabilities are unknown.
Low uncertainty avoidance cultures accept and feel comfortable in unstructured situations or changeable environments and try to have as few rules as possible; People in these cultures are more tolerant of change and accept risks; Low uncertainty avoidance cultures are Denmark, Jamaica, Ireland, and Singapore. [35] [37]
Hofstede & Bond (1984) define uncertainty avoidance as "the degree to which people feel threatened by ambiguous situations, and have created beliefs and institutions that try to avoid these." [ 18 ] Stephan & Renfro (2002) thus suggest that cultures which hold norms and laws as very important are likely to perceive threat from "unfamiliar groups."
Uncertainty will likely dominate investor sentiment in 2025, according to Charles Schwab chief investment strategist Liz Ann Sonders. On a recent episode of Decoding Retirement, Sonders noted that ...
This is likely due to differences in uncertainty avoidance, or "the need for rule-governed behavior and clearly defined procedures". Standard operating procedures are more easily accepted in high uncertainty avoidance cultures, such as Greece, Switzerland, Korea, and some Latin American cultures.
Like many people, Adam Bernard shared the shock of suddenly losing his job one Friday morning on social media. His post on LinkedIn simply stated: “Well, in unexpected news, I was let go from GM ...