It is here shown that the extension of expected utility theory to multiple periods destroys the axiomatic base by introducing timing contradictions in what the chooser knows at a single time point. It is shown that some of these timing contradictions remain even if, as Samuelson (1952) proposed,...

Economists invoke Mundell (1961) in arguing for the general policy of a flexible exchange rate regime as a means of restoring equilibria after shocks. But there is a discrepancy between the intent of the general policy and attempts at its implementation as identified by specific changes in...

The paper re-expresses and complements arguments against the normative validity of expected utility theory in Robin Pope (1983, 1991a, 1991b, 1985, 1995, 2000, 2001, 2005,2006, 2007). The objections concern the neglect of the evolving stages of knowledge ahead (stages of what the future will...

This paper’s objective is to use SKAT, the author’s Stages of Knowledge Ahead Theory of risk, to shed fresh light on the treatment and prevention of mental disorders. SKAT employs a broad definition of risk that allows for nice – not merely nasty – possibilities. SKAT is here shown to...

This paper introduces a new theoretic entity, a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are incompatible with expected utility theory which excludes...

Pro-life advocates focus on a single entity, the foetus. Pro-choice advocates focus on another single entity, the pregnant mother. There should also be a third focus, on all people already born – on how a new entrant on average damages (or enhances) the whole community. Communal accounts are...

This paper’s objective is to use SKAT, the author’s Stages of Knowledge Ahead Theory of risk, to shed fresh light on the treatment and prevention of mental disorders. SKAT employs a broad definition of risk that allows for nice – not merely nasty – possibilities. SKAT is here shown to...