Ambiguity aversion is a behavioral phenomenon where individuals prefer known risks over unknown risks. This means that when faced with uncertain outcomes, people often choose options with clear probabilities rather than those with ambiguous or unclear probabilities, even if the latter might offer better potential rewards. This aversion can significantly influence decision-making in various fields, including finance, healthcare, and everyday life. For example, a person might choose a familiar investment with a known return rate instead of a new opportunity that has uncertain outcomes, reflecting their discomfort with ambiguity and preference for certainty.