The discovered preference hypothesis appears to insulate expected utility theory (EU) from disconfirming experimental evidence. It asserts that individuals have coherent underlying preferences, which experiments may not reveal unless subjects have adequate opportunities and incentives to...

Is the rapid growth of experimental research in economics evidence of a new scientific spirit at work or merely fresh evidence of a misplaced desire to ape the methods of natural sciences? It is often argued that economic experiments are artificial in some sense that tends to render the results...

Developments in the theory of individual decision-making have been partly shaped by two criteria: a desire for models consistent with experimental evidence; and a pre-commitment to models built on normatively appealing axioms. This paper explores the compatibility of these two selection criteria....