research product . Other ORP type . 2020

Savage's response to Allais as Broomean reasoning

Dietrich, Franz; Staras, Antonios; sugden, robert;
  • Published: 01 May 2020
  • Publisher: HAL CCSD
  • Country: France
URL des Documents de travail : Voir aussi l'article basé sur ce document de travail paru dans "Journal of Economic Methodology, Taylor & Francis (Routledge), 2021, 28 (2), pp.143-164.; Documents de travail du Centre d'Economie de la Sorbonne 2020.16 - ISSN : 1955-611X; International audience; Leonard Savage famously contravened his own theory when first confronting the Allais Paradox, but then convinced himself that the had made an error. We examine the formal structure of Savage's ‘error-correcting’ reasoning in the light of (i) behavioural economists' claims to identify the latent preferences of individuals...
free text keywords: Allais Paradox, Broome, rationality, Savage, behavioural economics, reasoning, JEL: B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B4 - Economic Methodology/B.B4.B41 - Economic Methodology, JEL: C - Mathematical and Quantitative Methods/C.C1 - Econometric and Statistical Methods and Methodology: General/C.C1.C18 - Methodological Issues: General, JEL: D - Microeconomics/D.D0 - General/D.D0.D01 - Microeconomic Behavior: Underlying Principles, JEL: D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D81 - Criteria for Decision-Making under Risk and Uncertainty, JEL: D - Microeconomics/D.D9 - Intertemporal Choice/D.D9.D90 - General, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, [SHS.STAT]Humanities and Social Sciences/Methods and statistics, [QFIN]Quantitative Finance [q-fin]
Funded by
ANR| ColAForm
Collective Attitude Formation
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-16-FRAL-0010
EC| NormativeEconomics
Reconstructing normative economics on a foundation of mutual advantage
  • Funder: European Commission (EC)
  • Project Code: 670103
  • Funding stream: H2020 | ERC | ERC-ADG
Coping with Heterogeneous Opinions
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-17-CE26-0003
UKRI| The Network for Integrated Behavioural Science - The Science of Consumer Behaviour
  • Funder: UK Research and Innovation (UKRI)
  • Project Code: ES/P008976/1
  • Funding stream: ESRC
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