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The reverse Allais paradox

Blavatskyy, P.R. (2013) The reverse Allais paradox. Economics Letters, 119 (1). pp. 60-64.

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The results of a new experiment show that the Allais paradox (or, more generally, the common consequence effect) gets reversed, i.e. fanning-in choice patterns significantly outnumber fanning-out choice patterns. Revealed indifference curves fan in along the horizontal axis and hypotenuse of the Marschak-Machina probability triangle. No significant asymmetry between fanning-in and fanning-out choice patterns is observed along the vertical axis of the probability triangle.

Item Type: Journal Article
Publisher: Elsevier
Copyright: © 2013 Elsevier B.V.
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