Experimental Discussion

Over the years, there have been numerous experiments conducted to verify some or all aspects of Expected Utility theory, many with surprising results. Some have led to the now-famous paradoxes, discussed in the Basic Concepts section, while others have led to the development of alternative theories.

• Experimental discussion of the St. Petersburg paradox
• Experimental discussion of the Allais paradox
• Experimental discussion of the Ellsberg paradox
• Experimental testing of Risk Aversion