This paper investigates the relation between consequentialism, as conceived of in moral theory, and standard expected utility theory. I argue that there is a close connection between the two. I show furthermore that consequentialism is not neutral with regard to the values of the agent. Consequentialism, as well as standard expected utility theory, is incompatible with the recognition of considerations that depend on what could have been the case, such as regret and disappointment. I conclude that consequentialism should be rejected (...) as a principle of rational choice and that there are reasons to doubt its plausibility in the realm of moral theory. Moreover, this is a reason to doubt whether standard expected utility theory is a plausible theory of rational choice. (shrink)

It is through our actions that we affect the way the world goes. Whenever we face a choice of what to do, we also face a choice of which of various possible worlds to actualize. Moreover, whenever we act intentionally, we act with the aim of making the world go a certain way. It is only natural, then, to suppose that an agent's reasons for action are a function of her reasons for preferring some of these possible worlds to others, (...) such that what she has most reason to do is to bring about the possible world which, of all those available to her, is the one that she has most reason to want to obtain. This is what is known as the `teleological conception of practical reasons'. Whether this is the correct conception of practical reasons is important not only in its own right, but also in virtue of its potential implications for what sort of moral theory we should accept. Below, I argue that the teleological conception is indeed the correct conception of practical reasons. (shrink)

There is, on a given moral view, an agent-centered restriction against performing acts of a certain type if that view prohibits agents from performing an instance of that act-type even to prevent two or more others from each performing a morally comparable instance of that act-type. The fact that commonsense morality includes many such agent-centered restrictions has been seen by several philosophers as a decisive objection against consequentialism. Despite this, I argue that agent-centered restrictions are more plausibly accommodated within a (...) consequentialist framework than within the more standard side-constraint framework. For I argue that when we combine agent-relative consequentialism with a Kantian theory of value, we arrive at a version of consequentialism, which I call 'Kantsequentialism', that has several advantages over the standard side-constraint approach to accommodating constraints. What’s more, I argue that Kantsequentialism doesn’t have any of the disadvantages that critics of consequentializing have presumed that such a theory must have. (shrink)

If you are more likely to continue a course of action in virtue of having previously invested in that course of action, then you tend to honor sunk costs. It is widely thought both that (i) individuals often do give some weight to sunk costs in their decision-making and that (ii) it is irrational for them to do so. In this paper I attempt to cast doubt on the conventional wisdom about sunk costs, understood as the conjunction of these two (...) claims. (shrink)

Recent literature on intrinsic value contains a number of disputes about the nature of the concept. On the one hand, there are those who think states of affairs, such as states of pleasure or desire satisfaction, are the bearers of intrinsic value (“Mooreans”); on the other hand, there are those who think concrete objects, like people, are intrinsically valuable (“Kantians”). The contention of this paper is that there is not a single concept of intrinsic value about which Mooreans and Kantians (...) have disagreed, but rather two distinct concepts. I state a number of principles about intrinsic value that have typically (though not universally) been held by Mooreans, all of which are typically denied by Kantians. I show that there are distinct theoretical roles for a concept of intrinsic value to play in a moral framework. When we notice these distinct theoretical roles, we should realize that there is room for two distinct concepts of intrinsic value within a single moral framework: one that accords with some or all of the Moorean principles, and one that does not. (shrink)

Intrinsic value has traditionally been thought to lie at the heart of ethics. Philosophers use a number of terms to refer to such value. The intrinsic value of something is said to be the value that that thing has “in itself,” or “for its own sake,” or “as such,” or “in its own right.” Extrinsic value is value that is not intrinsic.

The distinction between intrinsic and extrinsic value can be traced back to Plato and Aristotle. I contend that the distinction has never been properly drawn. My main task is to formulate the distinction in a way that avoids the problems of the traditional formulations. ;After defending the traditional Moorean conception of intrinsic value against John Mackie's arguments from relativity and "queerness," and against recent attacks by Elizabeth Anderson and Shelly Kagan, I attempt to define two important types of extrinsic value (...) in terms of intrinsic value. First, I define instrumental value. The main problem with traditional definitions of instrumental value is that they fail to account for the fact that preventing something intrinsically evil from occurring seems to be just as worthwhile as bringing about something intrinsically good. I attempt to account for this fact by introducing a "contextualist" analysis of instrumental value. Next, I present and defend an analysis of contributory value. I compare contributory value with conditional intrinsic value, and present an argument to show that the notion of conditional intrinsic value faces problems that can be avoided by admitting the existence of contributory value. I then expand on the contextualist analysis of instrumental value, and provide an analysis of extrinsic value that explains what is common to instrumental and contributory value. I contend that my analysis can also account for other types of extrinsic value---for example, signatory value---and I defend my analysis against recent objections by Alastair Norcross involving the extrinsic values of actions. ;Finally, I argue that contributory value can help to solve a current problem in environmental ethics. The problem is this: how can it be that the last member of a species is more valuable than a similar member of a flourishing species ? I argue that diversity of goods increases the value of a whole; therefore, the last member of an endangered species has contributory value in virtue of its contribution to the world's biological diversity. (shrink)