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À la recherche de la signification perdue du paradoxe d’Allais

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  • Dorian Jullien

Abstract

In ?Le paradoxe d?Allais. Comment lui rendre sa signification perdue ?,? Philippe Mongin [2014] proposes an abusively reassuring image of the rationality of the subjects that participated to MacCrimmon and Larsson?s [1979] experiments.?We show this by discussing these authors? data for the common consequence effect and the common ratio effect (two of Allais? paradoxes), which Mongin assimilates despite his distinction of the two effects.?Two tendencies in the data however support Mongin?s conclusion that these experiments are a fructuous source of inspiration for decision theory.?We further illustrate this by a brief discussion of the role played by these experiments in the making of rank-dependent expected utility theory and in the interindividual turn in the cognitive psychology of decision. Classification JEL : B21, B40, D81.

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  • Dorian Jullien, 2017. "À la recherche de la signification perdue du paradoxe d’Allais," Revue économique, Presses de Sciences-Po, vol. 68(4), pages 695-699.
    • Handle: RePEc:cai:recosp:reco_684_0695
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    1. Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
    2. Philippe Mongin, 2014. "Le paradoxe d'Allais. Comment lui rendre sa signification perdue ?," Revue économique, Presses de Sciences-Po, vol. 65(5), pages 743-779.
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    More about this item

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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