Editing Decision theory (section)

===Ludic fallacy===
{{Main|Ludic fallacy}}

A general criticism of decision theory based on a fixed universe of possibilities is that it considers the "known unknowns", not the "[[unknown unknowns]]":<ref> {{cite journal |last=Feduzi |first=A. |title= Uncovering unknown unknowns: Towards a Baconian approach to management decision-making |journal=Decision Processes|volume=124|year=2014|issue=2 |pages=268–283}} </ref> it focuses on expected variations, not on unforeseen events, which some argue have outsized impact and must be considered – significant events may be "outside model". This{{which|date=February 2025}} line of argument, called the [[ludic fallacy]], is that there are inevitable imperfections in modeling the real world by particular models, and that unquestioning reliance on models blinds one to their limits.