Maurice Félix Charles Allais, 1911-2010, was a French economist, physicist and Professor of Economics at the *École Nationale Supérieure des Mines de Paris (Mines ParisTech). *His pioneer contributions to the *theory of markets* and to the efficient utilization of resources, had him win the *Noble Prize in Economic Sciences* in 1988. He defined himself as a “Liberal Socialist”

Allais took *Léon Walras*’ and *Vilfredo Pareto*’s previous works regarding equilibrium and market efficiency, and developed them with a more rigorous mathematical formulation back up. He is also known for the *Allais paradox*, which is a breach in the decision theory, as it fails the *expected utility theory*. He was able to apply his theory of behaviour under *uncertainty* in the general equilibrium model, by demonstrating that a competitive allocation of *risks* leads to an optimal allocation of resources. Allais also made contributions in the area of *monetary policy* and studied the influence of non-rational behaviour in economic decisions, serving as an inspiration for *Kahneman*´s work.

Allais’ papers, always written in French, that stand out among his major works are: “Á la recherche d’une discipline économique” *(*In Search of an Economic Discipline*)*, 1943, and “Économie et intérêt*” (*Economy and Interest*), *1947*.*