ELI5: Explain Like I'm 5

Ambiguity aversion

Ambiguity aversion means people don't like things that are unclear or unsure. Imagine you're playing a game and you have to pick a door to open. Behind one door is a prize, and behind the other door, there's nothing. You can see one door has a picture of a cat on it, and the other door has a picture of a dog. You know what's behind the door with the cat. But if one had an ambiguous picture, like a fuzzy picture of a bunny, you might not want to choose that door because you're not sure what's behind it. This is the same concept when people don't want to make decisions when they don't have all the information. They feel scared or uncertain and would rather wait until all the information is clear.