Moral Decisions Under Risk and Uncertainty: Allais Paradox, Ellsberg Paradox, and Kahneman and Tversky’s Gambles

We adapted Allais paradox, Ellsberg paradox, and gamble scenarios by Kahneman and Tversky to examine whether people also have risk and uncertainty aversion in morally relevant scenarios. We found similar risk and uncertainty aversion in moral decisions of saving lives and treating illness for individuals and groups of individuals.