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Expected Utility Theory and the Experimentalists

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  • Harrison, Glenn W

Abstract

The experimental evidence against expected utility theory is, on balance, either uninformative or unconvincing. When one modifies the experiments to mitigate these criticisms the evidence tends to support traditional theory.

Suggested Citation

  • Harrison, Glenn W, 1994. "Expected Utility Theory and the Experimentalists," Empirical Economics, Springer, vol. 19(2), pages 223-253.
    • Handle: RePEc:spr:empeco:v:19:y:1994:i:2:p:223-53
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    References listed on IDEAS

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    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
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