Much of the evidence raising doubts about expected utility theory (EUT) comes from experiments involving hypothetical decisions. Most of the rest of the evidence comes from experiments where respondents are asked to make a large number of decisions, knowing that only one of these will provide...

Much of the evidence raising doubts about Expected Utility Theory (EUT) comes from experiments involving hypothetical decisions. Most of the rest of the evidence comes from experiments where respondents are asked to make a large number of decisions, knowing that only one of these will provide...