The Troika paradox

Pavlo R. Blavatskyy

Economics Letters, 2012, vol. 115, issue 2, 236-239

Abstract: In three binary choice problems, people reveal a choice pattern which falsifies expected utility theory and many generalized non-expected utility theories. This new paradox challenges popular non-expected utility models analogously to how the Allais paradox challenged neoclassical expected utility theory.

Keywords: Risk; Expected utility; Non-expected utility; Risk aversion; Preference reversal (search for similar items in EconPapers)
JEL-codes: C91 D03 D81 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:2:p:236-239

DOI: 10.1016/j.econlet.2011.12.042

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