There is no established academic field or theory called "mythical theory". The term itself is ambiguous and could be interpreted in several ways:

1. Myth as a Theoretical Framework:

* Myth as a way of understanding the world: This view sees myths as not simply stories but as frameworks for understanding reality, morality, and human experience. Examples include:

* Structuralism (Claude Levi-Strauss): This approach analyzes myths as systems of binary oppositions (good vs. evil, nature vs. culture) that reflect underlying cultural structures.

* Functionalism (Bronislaw Malinowski): This approach sees myths as fulfilling social functions like explaining natural phenomena, reinforcing social norms, and providing psychological comfort.

* Myth as a source of philosophical insights: Some scholars argue that myths contain profound truths about the human condition, existence, and the cosmos.

* Myth as a tool for exploring the "unthinkable": Myths can deal with taboo subjects, existential questions, and psychological processes that are difficult to articulate directly.

2. Mythical Thinking:

* Cognitive biases and psychological processes: Some argue that mythical thinking is a fundamental aspect of human cognition, rooted in our tendency to find patterns and meaning in random events, and to create narratives to explain the world.

* The power of storytelling: Myths are powerful stories that can evoke strong emotions, inspire action, and influence belief systems. This aspect of mythical thinking can be used for both positive and negative purposes.

3. "Mythical" as a Descriptor:

* A term for something untrue or unfounded: In this sense, "mythical" is used to dismiss something as being a mere fantasy or a fabrication. For example, "The idea of a flat Earth is a mythical belief."

* A term for something extraordinary or legendary: This sense highlights the fantastic and imaginative elements of myths, for example, "The mythical creature, the unicorn, has captivated people's imaginations for centuries."

Therefore, it's crucial to specify what you mean by "mythical theory." Do you mean:

* The study of myths as a way to understand human culture and thought?

* The psychological processes involved in creating and interpreting myths?

* The use of "myth" as a metaphor or a critical term?

By clarifying your question, you can get a more precise and relevant answer.