No, this doesn’t sound like the Allais paradox. The Allais paradox has all probabiliies given. The Ellsberg paradox is the one with the “undetermined balls”. Or maybe you have something else entirely in mind.
What I mean is possible preference reversal if you just have a probability of a gamble vs. a known gamble.
No, this doesn’t sound like the Allais paradox. The Allais paradox has all probabiliies given. The Ellsberg paradox is the one with the “undetermined balls”. Or maybe you have something else entirely in mind.
What I mean is possible preference reversal if you just have a probability of a gamble vs. a known gamble.