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Expected Utility Theory and the Experimentalists

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Author Info
Harrison, Glenn W

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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.

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Publisher Info
Article provided by Springer in its journal Empirical Economics.

Volume (Year): 19 (1994)
Issue (Month): 2 ()
Pages: 223-53
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Handle: RePEc:spr:empeco:v:19:y:1994:i:2:p:223-53

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  1. Joyce E Berg & John W Dickhaut & Thomas A Rietz, 2004. "Preference Reversals: The Impact of Truth-Revealing Incentives," Levine's Bibliography 122247000000000571, UCLA Department of Economics. [Downloadable!]
  2. Vital Anderhub & Werner Gäuth & Wieland Mäuller & Martin Strobel, 2000. "An Experimental Analysis of Intertemporal Allocation Behavior," Experimental Economics, Springer, vol. 3(2), pages 137-152, October. [Downloadable!] (restricted)
  3. Huck, S. & Muller, W., 2007. "Allais for All: Revisiting the Paradox," Discussion Paper 2007-99, Tilburg University, Center for Economic Research. [Downloadable!]
  4. Peter Wakker & Veronika Köbberling & Christiane Schwieren, 2007. "Prospect-theory’s Diminishing Sensitivity Versus Economics’ Intrinsic Utility of Money: How the Introduction of the Euro can be Used to Disentangle the Two Empirically," Theory and Decision, Springer, vol. 63(3), pages 205-231, November. [Downloadable!] (restricted)
  5. Fiore, Annamaria, 2009. "Experimental Economics: Some Methodological Notes," MPRA Paper 12498, University Library of Munich, Germany. [Downloadable!]
  6. Ronald Harstad, 2000. "Dominant Strategy Adoption and Bidders' Experience with Pricing Rules," Experimental Economics, Springer, vol. 3(3), pages 261-280, December. [Downloadable!] (restricted)
  7. Seidl, C. & Traub, S., 1996. "Rational choice and the relevance of irrelevant alternatives," Discussion Paper 91, Tilburg University, Center for Economic Research. [Downloadable!]
  8. Camerer, Colin F. & Hogarth, Robin M., 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Working Papers 1059, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  9. Robin Cubitt & Chris Starmer & Robert Sugden, 1998. "On the Validity of the Random Lottery Incentive System," Experimental Economics, Springer, vol. 1(2), pages 115-131, September. [Downloadable!] (restricted)
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