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Value & The Brain

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Plato’s Allegory of the Cave - Alex Gendler. Want to read the Allegory of the Cave in its complete format?

Plato’s Allegory of the Cave - Alex Gendler

Go to this site and get started. To better understand the allegory’s larger context, try reading the rest of The Republic by Plato and these classic lectures. Then, check out this modern scientific interpretation of what it tells us about human knowledge. Want to see two different visual representations of this allegory? Watch this version of Plato’s allegory in clay animation or this one narrated by Orson Wells! Marginal utility. Marginality[edit] The term marginal refers to a small change, starting from some baseline level.

Marginal utility

As Philip Wicksteed explained the term, "Marginal considerations are considerations which concern a slight increase or diminution of the stock of anything which we possess or are considering"[2] In practice the smallest relevant division may be quite large. Sometimes economic analysis concerns the marginal values associated with a change of one unit of a discrete good or service, such as a motor vehicle or a haircut. Utility[edit] Depending on which theory of utility is used, the interpretation of marginal utility can be meaningful or not.

Contemporary mainstream economic theory frequently defers metaphysical questions, and merely notes or assumes that preference structures conforming to certain rules can be usefully proxied by associating goods, services, or their uses with quantities, and defines "utility" as such a quantification.[5]

Scott McCloud: The visual magic of comics. Morality Archives - The Capitalism Site. American philosophy. American philosophy is the philosophical activity or output of Americans, both within the United States and abroad.

American philosophy

David Bohm. David Joseph Bohm FRS[1] (December 20, 1917 – October 27, 1992) was an American theoretical physicist who contributed innovative and unorthodox ideas to quantum theory, philosophy of mind, and neuropsychology.

David Bohm

Alternatives to the Ten Commandments. Several alternatives to the Ten Commandments have been promulgated by different persons and groups.

Alternatives to the Ten Commandments

Outline of self. Self – individual person, from his or her own perspective.

Outline of self

To you, self is you. To a different person, self is that person. Life stages/events[edit] Self-actualization. Self-actualization is a term that has been used in various psychology theories, often in slightly different ways.


The term was originally introduced by the organismic theorist Kurt Goldstein for the motive to realize one's full potential. Expressing one's creativity, quest for spiritual enlightenment, pursuit of knowledge, and the desire to give to society are examples of self-actualization. Keynesian beauty contest. A Keynesian beauty contest is a concept developed by John Maynard Keynes and introduced in Chapter 12 of his work, The General Theory of Employment, Interest and Money (1936), to explain price fluctuations in equity markets.

Keynesian beauty contest

Overview[edit] Keynes described the action of rational agents in a market using an analogy based on a fictional newspaper contest, in which entrants are asked to choose the six prettiest faces from a hundred photographs. Those who picked the most popular faces are then eligible for a prize. Nash equilibrium. In game theory, the Nash equilibrium is a solution concept of a non-cooperative game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.[1] If each player has chosen a strategy and no player can benefit by changing strategies while the other players keep theirs unchanged, then the current set of strategy choices and the corresponding payoffs constitutes a Nash equilibrium.

Nash equilibrium

The reality of the Nash equilibrium of a game can be tested using experimental economics method. Stated simply, Amy and Will are in Nash equilibrium if Amy is making the best decision she can, taking into account Will's decision while Will's decision remains unchanged, and Will is making the best decision he can, taking into account Amy's decision while Amy's decision remains unchanged.

Applications[edit] History[edit] The Nash equilibrium was named after John Forbes Nash, Jr. Let . Michael Norton: How to buy happiness. Social cognitive theory. Social cognitive theory (SCT), used in psychology, education, and communication, holds that portions of an individual's knowledge acquisition can be directly related to observing others within the context of social interactions, experiences, and outside media influences.

Social cognitive theory

Cognitive Hierarchy Theory. Cognitive Hierarchy Theory (CHT) is a behavioral model originating in behavioral economics and game theory that attempts to describe human thought processes in strategic games. CHT aims to improve upon the accuracy of predictions made by standard analytic methods (including backwards induction and iterated elimination of dominated strategies), which can deviate considerably from actual experimental outcomes. Framework[edit] Like other theories, Cognitive Hierarchy Theory assumes that players in strategic games base their decisions on their predictions about the likely actions of other players. According to CHT, players in strategic games can be categorized by the "depth" of their strategic thought.[1] It is thus heavily focused on bounded rationality. A completely non-strategic player will choose actions without regard to the actions of other players.

In its basic form, CHT implies that each player believes that he or she is the most sophisticated person in the game.