This site is meant demonstrate the unidentifiability of EBRD and PT3 for simple lotteries. To switch EBRD from early/delayed resolution click the button found below.

The comparison we employ concerns the certainty equivalents of lotteries of the form (ℓ, p; 0, 1-p) given an independent reference (r, q; 0, 1-q). Given user provided values of ℓ and r for the lotteries and EBRD parameters λ, α, this site calculates the PT3 parameters such that the distance between the certainty equivalents under EBRD and PT3 is minimized across a set of interior probabilites. The resulting fits are provided below as is a graph of the fits.