We provide a novel but intuitive explanation for expected utility violations found in the Allais paradox: individuals are commonly averse to receiving nothing. We call this phenomenon the zero effect. Our laboratory experiments show support for the zero effect. By contrast, the evidence for the certainty effect is weak to nonexistent.

中文翻译：

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阿莱悖论是由于对确定性的诉求还是对零的厌恶？

我们为阿莱悖论中发现的预期效用违规提供了一种新颖但直观的解释：个人通常不愿接受任何东西。我们称这种现象为零效应。我们的实验室实验表明支持零效应。相比之下，确定性效应的证据微弱甚至不存在。