Re: Have you
The Allais "paradox" isn't an example of people behaving incorrectly, it's an example of a problem with the standard economic way of analyzing decisions under uncertainty (ie assume a concave utility function to account for risk aversion). Realisticly, people aren't bankrolled for life. You're going to have to deviate from maximizing EV once you get outside of the realm of poker, and it's not entirely clear what the best way to do that is. I'm not comfortable with calling something that occurs so frequently as the preference reversal problem (Allais paradox) a reasoning error.
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