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The Allais' Paradox.... Philosophy
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Philosophy
The Allais' Paradox...
2019-08-05 12:49:01
Philosophy
... shows that many individuals do not choose according to the principle of strong independence.
... shows that expected utility theory does not offer economic explanations.
. has been proposed to show the applicability of decisions over lotteries to decision-making under uncertainty.
... shows that risk-averse individuals cannot decide according to principles of rationality.
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