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Articles Tagged: Decision Theory

Articles

  • Newcomb's Paradox - A renowned thought experiment in decision theory that highlights a fundamental tension between maximizing expected utility and following the principle of dominance when faced with a highly accurate predictor.
  • Prospect Theory - A behavioral economic theory describing how people make decisions involving risk and uncertainty, showing that humans systematically deviate from rational choice theory in predictable ways.
  • St. Petersburg Paradox - A foundational paradox in decision theory that reveals a discrepancy between a gamble's infinite expected monetary value and people's willingness to pay.