Rationality and paradoxes in consumer behavior

The theory of the expected benefits produced very elegant and compelling framework in explaining of economic choices. Quite soon it became clear that he could not explain some empirical research results and economic experiments, such as St. Petersburg paradox, Allais paradox, Ellsberg paradox, but also a wide range situations of normal economic life. Psychologists and economists gathered during the 60s and 70s of the twentieth century a large body of evidence that people decide otherwise, as they are requested normative theory of expected good. In the practical part of the chapter the validity of selected examples from Behavioural Economics is tested. We decided to focus on the economic experiments and using Allais paradox in the context of consumer behaviour. For the gaining data we used questionnaire with the specific questions related on the risk and uncertainty. Subsequently, collected data was statistically tested. Hypothesis that irrational people characterized by Allais paradox behave in the food consumption differently compared to a rational behaving consumers. Examination of respondents in the preferences did not differ according to the statistical test, although the graphical analysis pointed to some differences.