The Troika paradox
Blavatskyy, P.R. (2012) The Troika paradox. Economics Letters, 115 (2). pp. 236-239.
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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.
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|Copyright:||© 2011 Elsevier B.V.|
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