David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 7 (1-2):73 - 80 (1988)
When a trustee makes a decision for a client, a standard objective is to decide as the client would if he had the trustee's information. How can this objective be attained when, given the trustee's information, there is still uncertainty about the consequences of alternative courses of action? A promising approach is to apply the rule to maximize expected utility using the client's utilities for consequences and the trustee's probabilities for states. But taking utilities and probabilities from different sources causes a problem that has to be resolved. Briefly, the problem is that the client's utilities for consequences involve assessments of risks that are uninformed because he does not have informed probabilities. And the resolution of the problem is to reconstruct his utilities for consequences using a component due to risk that the trustee supplies for the client, and a component due to other consequences that the client supplies for himself.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Maurice Allais & Ole Hagen (eds.) (1979). Expected Utility Hypotheses and the Allais Paradox. D. Reidel.
Frank Jackson & Robert Pargetter (1983). Where the Tickle Defence Goes Wrong. Australasian Journal of Philosophy 61 (3):295 – 299.
Richard Jeffrey (1983). The Logic of Decision. University of Chicago Press.
Brian Skyrms (1980). Causal Necessity: A Pragmatic Investigation of the Necessity of Laws. Yale University Press.
Citations of this work BETA
No citations found.
Similar books and articles
Lloyd R. Cohen (2005). UNOS: The Faithless Trustee. American Journal of Bioethics 5 (4):13 – 14.
Sue E. Schonberg & Sandra S. Lee (1996). Identifying the Real Eap Client: Ensuing Ethical Dilemmas. Ethics and Behavior 6 (3):203 – 212.
William A. Kerler & Larry N. Killough (2009). The Effects of Satisfaction with a Client's Management During a Prior Audit Engagement, Trust, and Moral Reasoning on Auditors' Perceived Risk of Management Fraud. Journal of Business Ethics 85 (2):109-136.
Anita Ho (2011). Trusting Experts and Epistemic Humility in Disability. International Journal of Feminist Approaches to Bioethics 4 (2):102-123.
Paul Weirich (1986). Expected Utility and Risk. British Journal for the Philosophy of Science 37 (4):419-442.
John M. Clark, Linda Ferrell & O. C. Ferrell (2003). Conflicts of Interest Arising From the Prudent Investor Rule: Ethical Implications for Over-the-Counter Derivative Securities. [REVIEW] Journal of Business Ethics 47 (2):165 - 173.
Wilfrid I. Card (1980). Rational Justification for Therapeutic Decisions. Theoretical Medicine and Bioethics 1 (1):11-28.
Sanjay Goel, Geoffrey G. Bell & Jon L. Pierce (2005). The Perils of Pollyanna: Development of the Over-Trust Construct. [REVIEW] Journal of Business Ethics 58 (1-3):203 - 218.
Added to index2009-01-28
Total downloads7 ( #185,130 of 1,100,855 )
Recent downloads (6 months)5 ( #58,660 of 1,100,855 )
How can I increase my downloads?