More ambiguity aversion or more risk aversion?

Using a pair of preferences $$\succeq ^{\min }$$ ⪰ min and $$\succeq ^{\max }$$ ⪰ max with utility functions $$\min _{s\in S}f\left( s\right) $$ min s ∈ S f s and $$\max _{s\in S}f\left( s\right) $$ max s ∈ S f s over the Ellsberg three color acts, this paper argues that the existing notions of attitudes toward ambiguity either mix ambiguity and risk or still involve attitudes toward risk even though ambiguity is exogenously given. Based on those observations, a new approach to defining attitudes toward ambiguity is suggested. Moreover, some relevant notions such as certainty equivalent for ambiguity and ambiguity premium are also proposed.