This study investigates how individuals assess imprecise information. We focus on two essential dimensions of decision under uncertainty, outcomes and probabilities, and their respective precision. We believe the precision of information is highly relevant in the investment setting, as reflected in the well-known “home (familiarity) bias”, and the outcome and probability dimensions, separately or jointly, may affect investors’ knowledge of uncertainty and perceived risk of the investment options, and subsequently affect investors’ choices. To test this conjecture, we conducted three experiments. Our results show that 1) participants demonstrate a pattern of preference for precision and aversion of extreme vagueness and associate vagueness with higher perceived risk and lower investment (experiments one and two); 2) participants prefer vague outcome information to vague probability information (experiment two); 3) familiarity indeed positively affects the precision of estimated values, but this association is stronger for the outcome dimension than for probabilities (experiment three). Our results confirm that precision in information, especially in the outcome dimension has an impact on investors’ resource allocation choices.

这项研究调查了个人如何评估不精确的信息。我们关注不确定性，结果和概率以及它们各自的精确度下决策的两个基本维度。我们认为，信息的准确性与投资环境高度相关，正如众所周知的“家庭（家庭）偏见”所反映的那样，结果和概率维度（单独或共同影响）可能会影响投资者对不确定性和感知风险的认识投资选择权，并随后影响投资者的选择。为了验证这一猜想，我们进行了三个实验。我们的结果表明：1）参与者表现出对精确性的偏爱，并且对极端模糊性和联想模糊性的偏爱与较高的感知风险和较低的投资（实验一和二）有关；2）与模糊的概率信息相比，参与者更喜欢模糊的结果信息（实验二）；3）熟悉程度确实会对估计值的准确性产生积极影响，但这种联系对于结果维度要比对概率要强（实验三）。我们的结果证实，信息的准确性，特别是结果维度的准确性，对投资者的资源分配选择有影响。