Il Paradosso di San Pietroburgo: quando l’economia si fa comportamentale

The St. Petersburg Paradox challenges the notion of absolute economic rationality by revealing how individuals assess risk through psychological rather than mathematical criteria. Behavioural economics, especially Prospect Theory, provides tools to understand such deviations. In legal contexts, this supports financial regulation that accounts for subjective risk perception and cognitive biases. Frameworks like MiFID II and the concept of the average consumer reflect this shift toward a more realistic and protective legal approach, capable of addressing the complexity and asymmetries of modern financial markets.