Can I recreate an experiment on Allais paradox using student grades as payoffs?
I am not sure I understand the problems outlined in the other answers. Seems to me that if we assume students maximize their expected utility and lotteries A1 and B2 (or B1 and A2) are chosen by someone, we would have

\begin{align*}
100\% \ U(B) &amp; &gt; 10\% \ U(A) + 89\% \ U(B) + 1\% \ U(F) \\
\\
11\% \ U(B) + 89\% \ U(F) &amp; &lt; 10\% \ U(A) + 90\% \ U(F)
\end{align*}
which are contradictory. There is no need to assume anything about the function $U$ for these to be contradictory.

One runs into the usual problem of trying to elicit true preferences in a poll, but so does the original paradox.