The Kahoot replicates the Allais Paradox. Maurice Allais received the Nobel Prize in Economics for demonstrating that income was a key determinant of risk preference. Before Allais economists assumed that people were either risk averse, risk neutral of risk takers and that their preferences did not change. It is our experience that 20-30 percent of your students will choose gambles 1 and B (just like Allais’ subject did over 30 years ago).
Course Used: Principles of Micro
Quiz Nature: Discussion Starter
Question Length: 1
Estimated Time to Play: 5 minutes.
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