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| Author: | Harrison, G. |
| Title: | Expected utility theory and the experimentalists |
| Journal: | Empirical Economics
1994 : VOL. 19:2, p. 223-254 |
| Index terms: | UTILITY THEORY EXPERIMENT DESIGN ECONOMICS |
| Language: | eng |
| 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. Expected Utility Theory has been under severe attack in recent years. The source of this attack has been the observation of apparently robust behavioral anomalies in decisions that individual experimental subjects make in controlled environments. |
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