Maurice Allais introduced a thought experiment that highlighted inconsistencies in expected utility theory, which is foundational to traditional game theory. Here are the main points regarding Allais’s paradox:
Functional Neurological Disorder (FND) is a complex condition that affects how the brain and body communicate.
The development of game theory in the 1940s and 1950s marked a significant advancement in understanding strategic interactions among rational agents.
The Theory of Rationality, often associated with Rational Choice Theory, is a framework used to understand decision-making processes.
Expected Utility Theory rests on a set of fundamental axioms of rationality that guide how individuals make decisions under uncertainty.
Daniel Bernoulli addressed the limited willingness of people to engage in gambles based on utility maximization in his 1738 publication, Exposition of a New Theory on the Measurement of Risk.
The Frankfurt School refers to a group of scholars associated with the Institute for Social Research in Frankfurt, Germany, founded in 1923.
Critical Theory is a rich and evolving field that seeks to analyse and critique society, culture, and politics
Personal Engagement Manipulative Techniques are practices that seek to change a persons behaviour through manipulation and deceit.
