Concepedia

Allais Paradox

The Allais Paradox is a theoretical inconsistency in expected utility theory that reveals a preference reversal when individuals choose between probabilistic outcomes, thereby demonstrating that human decision-making under risk systematically violates the independence axiom of rational choice.

90

Publications

8.4K

Citations

132

Authors

98

Institutions

Publications per year

2017–2026

12

Parents

Publications

90

A Theory of Disappointment Aversion

Faruk Gül · Econometrica · 1991 · 1.4K citations

, , +13

Salience Theory of Choice Under Risk

Pedro Bordalo, Nicola Gennaioli, Andrei Shleifer · The Quarterly Journal of Economics · 2012 · 1.3K citations · Full text

, , +17

The priority heuristic: Making choices without trade-offs.

Eduard Brandstätter, Gerd Gigerenzer, Ralph Hertwig · Psychological Review · 2006 · 766 citations · Full text

, , +17

A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox

Econometrica · 1983 · 633 citations

, , +11

Similarity and decision-making under risk (is there a utility theory resolution to the Allais paradox?)

Ariel Rubinstein · Journal of Economic Theory · 1988 · 365 citations

, , +14

1–5 of 90

Authors

132

  1. PR
    Pavlo R. Blavatskyy

    Montpellier Business School, France

    5 publications · 129 citations

    5

    h-index

  2. OH
    Ole Hagen

    University of Nottingham, United Kingdom

    4 publications · 95 citations

    4

    h-index

  3. MH
    Michael H. Birnbaum

    California State University, Fullerton, United States

    3 publications · 161 citations

    3

    h-index

  4. MA
    Maurice Allais

    University of York, United Kingdom

    3 publications · 81 citations

    3

    h-index

  5. AO
    Andreas Ortmann

    UNSW Sydney, Australia

    2 publications · 45 citations

    2

    h-index

1–5 of 132

Institutions

98

  1. Columbia University

    New York, United States

    5 h-index

    6 publications

    402 citations

  2. Carnegie Mellon University

    Pittsburgh, United States

    3 h-index

    4 publications

    167 citations

  3. Cornell University

    Ithaca, United States

    3 h-index

    4 publications

    166 citations

  4. London School of Economics and Political Science

    London, United Kingdom

    3 h-index

    3 publications

    109 citations

  5. Washington University in St. Louis

    St Louis, United States

    3 h-index

    5 publications

    113 citations

  6. Montpellier Business School

    Montpellier, France

    3 h-index

    3 publications

    68 citations

  7. California State University, Fullerton

    Fullerton, United States

    3 h-index

    3 publications

    161 citations

  8. Université Paris 1 Panthéon-Sorbonne

    Paris, France

    2 h-index

    2 publications

    87 citations

1–8 of 98

Venues

  1. SSRN Electronic Journal

    Repository · 4 publications · 73 citations

    4

    h-index

  2. Management Science

    4 publications · 145 citations

    4

    h-index

  3. Systems Research and Behavioral Science

    4 publications · 173 citations

    4

    h-index

  4. Journal of Risk and Uncertainty

    4 publications · 189 citations

    4

    h-index

  5. American Economic Review

    4 publications · 448 citations

    4

    h-index

1–5