Decision Theory

Maximize Expected Choiceworthiness (MEC) is a theory of decision-making under moral uncertainty. It says that we ought to handle moral uncertainty in the way that Expected Value Theory (EVT) handles descriptive uncertainty. MEC inherits from EVT the problem of fanaticism. Roughly, a decision theory is fanatical when it requires our decision-making to be dominated by low-probability, high-payoff options. Proponents of MEC have offered two main lines of response. The first is that MEC should simply import whatever are the best solutions (...) to fanaticism on offer in decision theory. The second is to propose statistical normalization as a novel solution on behalf of MEC. This paper argues that the first response is open to serious doubt and that the second response fails. As a result, MEC appears significantly less plausible when compared to competing accounts of decision-making under moral uncertainty, which are not fanatical. (shrink)

It is not uncommon in the history of science and philosophy to encounter crucial experiments or crucial objections the truth-value of which we are ignorant, that is, about which we suspend judgment. Should we ignore such objections? Contrary to widespread practice, I show that in and only in some circumstances they should not be ignored, for the epistemically rational doxastic attitude is to suspend judgment also about the hypothesis that the objection targets. In other words, suspension of judgment “propagates” from (...) the crucial objection to the hypothesis. In this paper I study under which conditions this phenomenon occurs, and discuss its significance for the topics of skepticism, scientific realism, and peer disagreement. (shrink)

My dissertation is about Bayesian rationality for non-ideal agents. I show how to derive subjective probabilities from preferences using much weaker rationality assumptions than other standard representation theorems. I argue that non-ideal agents might be uncertain about how they will update on new information and consider two consequences of this uncertainty: such agents should sometimes reject free information and make choices which, taken together, yield sure loss. The upshot is that Bayesian rationality for non-ideal agents makes very different normative demands (...) than ideal Bayesian rationality. (shrink)

Contemporary action theory is generally concerned with giving theories of action ontology. In this paper, we make the novel proposal that the standard view in action theory—the Causal Theory of Action—should be recast as a “model”, akin to the models constructed and investigated by scientists. Such models often consist in fictional, hypothetical, or idealized structures, which are used to represent a target system indirectly via some resemblance relation. We argue that recasting the Causal Theory as a model can not only (...) accomplish the goals of causal theorists, but also give the theory greater flexibility in responding to common objections. (shrink)

Bounded rationality gets a bad rap in epistemology. It is argued that theories of bounded rationality are overly context‐sensitive; conventionalist; or dependent on ordinary language (Carr, 2022; Pasnau, 2013). In this paper, I have three aims. The first is to set out and motivate an approach to bounded rationality in epistemology inspired by traditional theories of bounded rationality in cognitive science. My second aim is to show how this approach can answer recent challenges raised for theories of bounded rationality. My (...) third aim is to clarify the role of rational ideals in bounded rationality. (shrink)

It’s intuitive to think that an intentional action requires that the agent knows that she’s doing so. In light of some apparent counterexamples, Setiya suggests that this intuitive insight is better captured in terms of credence: performing an intentional action requires the agent to have a higher credence that she’s doing so than she would have otherwise. I argue that there is no such thing as an agent’s credence for what she’s doing. After distinguishing this thesis from an idea some (...) defend under the slogan “deliberation crowds out prediction”, I explore the thesis’s broader epistemological implications for the belief-credence relation. (shrink)

Stalnaker’s ‘Assertion’ (1978 [1999]) offers a classic account of diagonalization as an approach to the meaning of a declarative sentence in context. Here I explore the relationship between diagonalization and some puzzles in Mahtani’s book The Objects of Credence. Diagonalization can influence how we think about both credence and desirability, so it influences both components of a standard expected utility equation. In that vein, I touch on two of Mahtani’s case-studies, chance and the finite version of the Two Envelope Paradox.

In light of the problem of logical omniscience, some scholars have argued that belief is question-sensitive: agents don't simply believe propositions but rather believe answers to questions. Hoek (2022) has recently developed a version of this approach on which a belief state is a "web" of questions and answers. Here, we present several challenges to Hoek's question-sensitive account of belief. First, Hoek's account is prone to very similar logical omniscience problems as those he claims to address. Second, the link between (...) belief and action he proposes is too rigid. We close by sketching a generalization of the account that can meet these challenges. (shrink)

This paper will be concerned with hard choices—that is, choice situations where an agent cannot make a rationally justified choice. Specifically, this paper asks: if an agent cannot optimize in a given situation, are they facing a hard choice? A pair of claims are defended in light of this question. First, situations where an agent cannot optimize because of incompleteness of the binary preference or value relation constitute a hard choice. Second, situations where agents cannot optimize because the binary preference (...) or value relation violates acyclicity do not constitute a hard choice. (shrink)

This essay gives an account of epistemic deference for agents with imprecise credences. I look at the two main imprecise deference principles in the literature, known as Identity Reflection and Pointwise Reflection (Moss, 2021). I show that Pointwise Reflection is strictly weaker than Identity Reflection, and argue that, if you are certain you will update by conditionalisation, you should defer to your future self according to Identity Reflection. Then I give a more general justification for Pointwise and Identity Reflection from (...) the assumption that you defer to someone whenever you consider their doxastic state to be better than yours, in the sense of leading to better decision-making. (shrink)

I explain and motivate the shutdown problem: the problem of creating artificial agents that (1) shut down when a shutdown button is pressed, (2) don’t try to prevent or cause the pressing of the shutdown button, and (3) otherwise pursue goals competently. I then propose a solution: train agents to have incomplete preferences. Specifically, I propose that we train agents to lack a preference between every pair of different-length trajectories. I suggest a way to train such agents using reinforcement learning: (...) we give the agent lower reward for repeatedly choosing same-length trajectories. (shrink)

This paper presents a unifying diagnosis of a number of important problems facing existing models of rational choice under moral uncertainty and proposes a remedy. I argue that the problems of (i) severely limited scope, (ii) intertheoretic comparisons, and (iii) 'swamping’ all stem from the way in which values are assigned to options in decision rules such as Maximisation of Expected Choiceworthiness. By assigning values to options under a given moral theory by asking something like ‘how much do I desire (...) this option, supposing this theory is true?’ rather than ‘how much value does this theory assign to this option?’ these problems can be avoided, while the appealing features of these accounts can be preserved. This amendment provides a role for the preferences, desires, or goals of rational agents that is curiously absent from the existing discussion of what individuals rationally ought to do when they are uncertain about what they morally ought to do. (shrink)

The thesis of instrumental convergence holds that a wide range of ends have common means: for instance, self preservation, desire preservation, self improvement, and resource acquisition. Bostrom contends that instrumental convergence gives us reason to think that "the default outcome of the creation of machine superintelligence is existential catastrophe". I use the tools of decision theory to investigate whether this thesis is true. I find that, even if intrinsic desires are randomly selected, instrumental rationality induces biases towards certain kinds of (...) choices. Firstly, a bias towards choices which leave less up to chance. Secondly, a bias towards desire preservation, in line with Bostrom's conjecture. And thirdly, a bias towards choices which afford more choices later on. I do not find biases towards any other of the convergent instrumental means on Bostrom's list. I conclude that the biases induced by instrumental rationality at best weakly support Bostrom's conclusion that machine superintelligence is likely to lead to existential catastrophe. (shrink)

In this exploration of self-identity, I argue that the self is not a standalone entity but an integral part of a broader consciousness. Deep meditation reveals the self as a construct beyond egoistic confines, interlinked with the external world and others' experiences. Decisions arise from an awareness that transcends individual ego, suggesting that our sense of self is an inexhaustible center of dynamic consciousness rather than an ultimate emptiness.

How should we make decisions when we do not know the relevant physical probabilities? In these ambiguous situations, we cannot use our knowledge to determine expected utilities or payoffs. The traditional Bayesian answer is that we should create a probability distribution using some mix of subjective intuition and objective constraints. Imprecise Bayesians argue that this approach is inadequate for modelling ambiguity. Instead, they represent doxastic states using credal sets. Generally, insofar as we are more uncertain about the physical probability of (...) an event, there is more divergence in the credal set. Hence, their approach can represent these ambiguities via the extent of the divergence. Imprecise Bayesianism has mostly been advocated for its epistemological features. In this article, we examine its properties for decision-making. We develop a model for comparing standard and Imprecise Bayesianism by testing their performances in a classic decision problem. We find that the representational tools of Imprecise Bayesianism also cause it to underperform in our tests. This issue has been overlooked, because previous research on Imprecise Bayesianism has not utilised agent-based modelling to provide information about its performance in the short-run. Overall, we reveal the Ambiguity Dilemma for Imprecise Bayesianism: To what extent should one value representational power or decision-making performance? (shrink)

In a fair finite lottery with n tickets, the probability assigned to each ticket winning is 1/n and no other answer. That is, 1/n is unique. Now, consider a fair lottery over the natural numbers. What probability is assigned to each ticket winning in this lottery? Well, this probability value must be smaller than 1/n for all natural numbers n. If probabilities are real-valued, then there is only one answer: 0, as 0 is the only real and non-negative value that (...) is smaller than 1/n for all natural numbers n. However, this answer seems counter-intuitive, as it violates Regularity: for all possible events A that are assigned a probability, A is assigned a positive probability. It is possible for ticket i to win in the second lottery. So, the set {i} should be assigned a positive probability and not 0. Consequently, in order to satisfy Regularity, probabilities must be allowed to take on `non-real' values, e.g. a positive infinitesimal x that is smaller than 1/n for all natural numbers n. So, what regular probability is assigned to {i} in the second lottery? This probability value must be positive but smaller than 1/n for all natural numbers n. Given the definition of x, x is a correct answer. But x isn't unique, because every other positive infinitesimal is a correct answer as well and there are uncountably many positive infinitesimals. After all, every positive infinitesimal is strictly between 0 and 1/n for all natural numbers n. Nothing about a fair lottery over the natural numbers uniquely determines x as the correct answer and nothing about the lottery rules out other positive infinitesimals as a correct answer as well. What probability to assign to {i} is underdetermined. -/- In this thesis, I explore this difference between fair finite lotteries and fair infinite lotteries. The constraints governing the former uniquely determine the probabilities assigned to events in those lotteries, but this isn't true for the latter lotteries, when Regularity is a constraint on probabilities. Now, although there are uncountably many correct probability values that can be assigned to {i} in the second lottery, there are some applications of probability theory, for which at least one correct probability value must be chosen in order to accomplish that application, e.g. calculation of expected utilities. In this thesis, I spell out sufficient conditions for when a choice like that is problematic. These conditions apply to precise probabilities, imprecise probabilities, and qualitative probabilities. So, I will consider Benci et al. (2018)'s and Pruss (2021)'s suggestion of allowing probabilities to be imprecise, as well as resorting to qualitative probabilities, to overcome the choice problem. I will argue that both don't solve the problem. Furthermore, there's a hitherto unnoticed difficulty in deriving imprecise probabilities by supervaluating over precise `non-real' probability values. To avoid this difficulty, precise probability values should be real-valued. Thus, Regularity cannot be a constraint on probabilities. But as it turns out, dropping Regularity as a constraint and requiring precise probabilities to be real-valued solve the choice problem. (shrink)

The intersection approach is a common method of overcoming a conflict among multiple values. Under this approach, a state is more desirable than another if it is so for all criteria in question. A fundamental difficulty is that judgment under the intersection approach lacks completeness in too many cases. We propose alternative methods that extend the intersection approach: the union and union-intersection approaches. Our methods generate a (quasi-)coherence judgment which is more completed and can be applied to most problems of (...) ethical indices. (shrink)

We examine the impact of Suzumura’s (Economica 43:381–390, 1976) consistency property when applied in the context of collective choice rules that are independent of irrelevant alternatives, neutral, and monotonic. An earlier contribution by Blau and Deb (Econometrica 45:871–879, 1977) establishes the existence of a vetoer if the collective relation is required to be complete and acyclical. The purpose of this paper is to explore the possibilities that result if completeness and acyclicity are dropped and Suzumura consistency is imposed instead. A (...) conceptually similar but logically independent version of the combined axiom that requires the collective decision mechanism to be independent, neutral, and monotonic is employed. In the case of a finite population, we obtain an alternative impossibility theorem if a collective choice rule is assumed to be non-degenerate and a modified no veto requirement is imposed instead of Blau and Deb’s (1977) condition. If the population is countably infinite, the impossibility can be avoided but it resurfaces if our new no veto property is extended to a coalitional variant. (shrink)

A probability aggregation rule assigns to each profile of probability functions across a group of individuals (representing their individual probability assignments to some propositions) a collective probability function (representing the group's probability assignment). The rule is “non-manipulable” if no group member can manipulate the collective probability for any proposition in the direction of his or her own probability by misrepresenting his or her probability function (“strategic voting”). We show that, except in trivial cases, no probability aggregation rule satisfying two mild (...) conditions (non-dictatorship and consensus preservation) is non-manipulable. (shrink)

Evidential decision theory (EDT) says that the choiceworthiness of an option depends on its evidential connections to possible outcomes. Causal decision theory (CDT) holds that it depends on your beliefs about its causal connections. While Newcomb cases support CDT, Arif Ahmed has described examples that support EDT. A new account is needed to get all cases right. I argue that an option A's choiceworthiness is determined by the probability that a good outcome ensues at possible A‐worlds that match actuality in (...) the facts causally unaffected by your decision (the “unaffected facts”). Moreover, you should evaluate A on the assumption that A is compossible with the unaffected facts. This view entails that you should use EDT when evaluating A on the assumption that the unaffected facts determine your action, but use CDT when assessing A on the opposite assumption. A's choiceworthiness equals a weighted average of these conditional assessments. The weights are determined by your beliefs about whether the unaffected fact determine your action. This account gets both Newcomb and Ahmed cases right. According to an influential view, whether you take the unaffected facts to determine your action can make a difference to whether you can regard yourself as free and the action as being under your control. While my account is neutral on this issue, it entails that whether you take the unaffected facts to determine your action is important in a different way: it matters to whether you should follow EDT or CDT. (shrink)

According to the Desiderative Lockean Thesis, there are necessary and sufficient conditions, stated in the terms of decision theory, for when one is truly said to want. What one is truly said to want, it turns out, varies remarkably by context—and to an underappreciated degree. To explain this context-sensitivity—and closure properties of wanting—I advance a Desiderative Lockean view that is distinctive in having two context-sensitive parameters.

The Sure-Thing Principle famously appears in Savage’s axiomatization of Subjective Expected Utility. Yet Savage introduces it only as an informal, overarching dominance condition motivating his separability postulate P2 and his state-independence postulate P3. Once these axioms are introduced, by and large, he does not discuss the principle any more. In this note, we pick up the analysis of the Sure-Thing Principle where Savage left it. In particular, we show that each of P2 and P3 is equivalent to a dominance condition; (...) that they strengthen in different directions a common, basic dominance axiom; and that they can be explicitly combined in a unified dominance condition that is a candidate formal statement for the Sure-Thing Principle. Based on elementary proofs, our results shed light on some of the most fundamental properties of rational choice under uncertainty. In particular they imply, as corollaries, potential simplifications for Savage’s and the Anscombe- Aumann axiomatizations of Subjective Expected Utility. Most surprisingly perhaps, they reveal that in Savage’s axiomatization, P3 can be weakened to a natural strengthening of so-called Obvious Dominance. (shrink)

In this work, I investigate the implications of reversing the common assumption of rationality on behalf of human agents typically underlying philosophical research. Instead, I assume that human agents can become rational only if they learn to edge against their dumbness. Specifically, I show that intelligence cannot be considered the opposite of dumbness. To this end, I embrace the difference among System 1, System 2, and System 1.5. On these grounds, I argue that System 2 can be considered the system (...) of intelligence, whereas Systems 1 and 1.5 can be viewed as the systems of rationality. More precisely, I argue that System 2 concerns theoretical reasoning, whereas System 1 and 1.5 concern practical reasoning. Accordingly, I show that people are dumber whenever they fail to have rational control over System 1 via System 1.5, whereas people become more rational whenever they manage to have rational control over System 1 via System 1.5. Interestingly, both cases can be considered the causes of two distinct social processes. On one side, when dumbness increases among individuals, social groups achieve coordination that detriments general welfare. On the other, when dumbness decreases among individuals, social groups achieve coordination that maximizes general welfare. (shrink)

The aim of this paper is to provide a detailed characterisation of some ways in which our preferences reflect our reasons. I will argue that practical reasons can be characterised along two dimensions that influence our preferences: their balance and their weight. This is analogous to a similar characterisation of the way in which probabilities reflect the balance and weight of evidence in epistemology. In this paper, I will illustrate the distinction between the balance and weight of reasons, and show (...) how this is crucial for an adequate account of preference and choice. The upshot is a more complete picture of a particular kind of decision, labelled by Isaac Levi and, more recently, Ruth Chang as ‘hard choices’. These are choices in which one option is better than another in some ways, the other is better than the first in some ways, but neither seems better overall. The distinction between the balance and weight of reasons presents a new way of understanding how hard choices vary by degree and what it is that makes them so hard. (shrink)

Risk is inherent to many, if not all, transformative decisions. The risk of regret, of turning into a person you presently consider to be morally objectionable, or of value change are all risks of choosing to transform. This aspect of transformative decision-making has thus far been ignored, but carries important consequences to those wishing to defend decision theory from the challenge posed by transformative decision-making. I contend that a problem lies in a common method used to cardinalise utilities – the (...) von Neumann and Morgenstern (vNM) method – which measures an agent's utility function over sure outcomes. I argue that the risks involved in transformative experiences are constitutively valuable, and hence their value cannot be accurately measured by the vNM method. In Section 1, I outline what transformative experiences are and the problem they pose to decision theory. In Section 2, I outline Pettigrew's (2019, Choosing for Changing Selves) decision-theoretic response, and in Section 3, I present the case for thinking that risks can carry value. In Section 4, I argue for the claim that at least some transformative experiences involve constitutive risk. I argue that this causes a problem for decision-theoretic responses within the vNM framework in Section 5. (shrink)

This paper presents some impossibility results for certain views about what you should do when you are uncertain about which moral theory is true. I show that under reasonable and extremely minimal ways of defining what a moral theory is, it follows that the concept of expected moral choiceworthiness is undefined, and more generally that any theory of decision-making under moral uncertainty must generate pathological results.

Hot-cold empathy gaps are a pervasive phenomena wherein one’s predictions about others tend to skew ‘in the direction’ of one’s own current visceral states. For instance, when one predicts how hungry someone else is, one’s prediction will tend to reflect one’s own current hunger state. These gaps also obtain intrapersonally, when one attempts to predict what one oneself would do at a different time. In this paper, we do three things: We draw on empirical evidence to argue that so-called hot-cold (...) empathy gaps arise when one projects one’s own current state into a simulation about another. Second, we argue that this process does not typically confer knowledge, even when the predictions it produces happen to be accurate. Third, we suggest that these results can be used to develop a challenge for L.A. Paul's view that authentic action sometimes requires subjective knowledge of one’s own values and how these values relate to relevant outcomes. We then sketch an alternative view of the epistemic grounds of authenticity, one on which authenticity requires a kind of understanding. The relevant form of understanding can be achieved by subjective knowledge but can also be achieved elsewise, such as through testimony from a close friend about what one values. (shrink)

The primary purpose of this study is to understand if/how patients of hospice healthcare require ‘Spiritual’ or/and ‘Religious’ assistance and if its involvement in palliative care helps greatly. We have built a correlative of two scales and administrated them on the same sample, along with complete demographics questions to a group of people under palliative care and several people directly connected with patients, relatives- families. This methodological study is designed to assess the reliability and validity of two scales simultaneously for (...) the same terminally ill patients (TIP): Paloutzian and Ellison’s (1982) Spiritual Well-being Scale. The scale was administered to 49 individuals, of which 45 are patients and 4 family members caring for a terminally ill relative. Background: Coping is a multifactorial and individual process related to responding to stressful situations, such as being a caregiver of a person with health conditions or terminal illness [such as in hospice]. Spiritual [S] / religious [R] coping is an essential internal resource used by individuals enduring stressful situations or, in this particular case, confronting imminent death. Instruments: The 14-item Brief RCOPE is widely used to assess religious coping. The other instrument we have used for S/R assessment is the Spiritual Well-Being (SWB) Scale, a general measure of the subjective quality of life. Neither one is available in the Romanian version Ciocan Tudor-Cosmin (2023) developed following Romanian culture. He worked with Professor Ray Paloutzian - author of the latter scale - to translate and validate the use of the translated scales. Objective: To investigate the S/RWB among palliative care patients in Romania and to identify the correlates of Spiritual and Religious Well-Being. Secondary: To translate, adapt and validate both the 14-item Brief RCOPE and SWBS in Romanian for caregivers of palliative patients facing death. Method: The methodological guideline provided by Ray Paloutzian and Craig W. Ellison was used to examine the psychometric properties of SWBS, while the manual provided by Kenneth Pargament on his website helped us accommodate the Brief RCOPE to Romanian culture and understanding. Results: The linguistic and conceptual equivalence of the scales was determined. The internal consistency was acceptable (Cronbach’s a = 0.891 for SWBS and a = 0.798 for RCOPE). The Principal Axis Factor (PAF) analysis with varimax rotation identified two factors comprising 13 items, and one item was excluded from the scale (14/RCOPE). The faith subscale (SWBS) showed similar distributions. Christians engaged in religious activities reported higher SWB in the meaning and peace subscale than patients without religious attendance. In the multivariate analysis, religious Frequency (P < 0.001), and individual spiritual activities (P < 0.003) were significantly related to a greater SWB. Conclusion: The Romanian versions of the SWBS and Brief RCOPE are reliable and valid measures for assessing both the spiritual and religious coping of patients in hospice, their families, and their caregivers. Although faith practices may be beneficial to improve spiritual well-being among Orthodox Christians (the majority in Romania), further research is needed to determine what individual spiritual activities can be supported by Orthodox Christians positively engaged – since they are very skeptical about practices other than religious ones, introduced by the traditional Church. (shrink)

A lively topic of debate in decision theory over recent years concerns our understanding of the different risk attitudes exhibited by decision makers. There is ample evidence that risk-averse and risk-seeking behaviours are widespread, and a growing consensus that such behaviour is rationally permissible. In the context of clinical medicine, this matter is complicated by the fact that healthcare professionals must often make choices for the benefit of their patients, but the norms of rational choice are conventionally grounded in a (...) decision maker’s own desires, beliefs and actions. The presence of both doctor and patient raises the question of whose risk attitude matters for the choice at hand and what to do when these diverge. Must doctors make risky choices when treating risk-seeking patients? Ought they to be risk averse in general when choosing on behalf of others? In this paper, I will argue that healthcare professionals ought to adopt a deferential approach, whereby it is the risk attitude of the patient that matters in medical decision making. I will show how familiar arguments for widely held anti-paternalistic views about medicine can be straightforwardly extended to include not only patients’ evaluations of possible health states, but also their attitudes to risk. However, I will also show that this deferential view needs further refinement: patients’ higher-order attitudes towards their risk attitudes must be considered in order to avoid some counterexamples and to accommodate different views about what sort of attitudes risk attitudes actually are. (shrink)

I explain the shutdown problem: the problem of designing artificial agents that (1) shut down when a shutdown button is pressed, (2) don’t try to prevent or cause the pressing of the shutdown button, and (3) otherwise pursue goals competently. I prove three theorems that make the difficulty precise. These theorems show that agents satisfying some innocuous-seeming conditions will often try to prevent or cause the pressing of the shutdown button, even in cases where it’s costly to do so. And (...) patience trades off against shutdownability: the more patient an agent, the greater the costs that agent is willing to incur to manipulate the shutdown button. I end by noting that these theorems can guide our search for solutions. (shrink)

Calibration inductive logics are based on accepting estimates of relative frequencies, which are used to generate imprecise probabilities. In turn, these imprecise probabilities are intended to guide beliefs and decisions — a process called “calibration”. Two prominent examples are Henry E. Kyburg's system of Evidential Probability and Jon Williamson's version of Objective Bayesianism. There are many unexplored questions about these logics. How well do they perform in the short-run? Under what circumstances do they do better or worse? What is their (...) performance relative to traditional Bayesianism? -/- In this article, we develop an agent-based model of a classic binomial decision problem, including players based on variations of Evidential Probability and Objective Bayesianism. We compare the performances of these players, including against a benchmark player who uses standard Bayesian inductive logic. We find that the calibrated players can match the performance of the Bayesian player, but only with particular acceptance thresholds and decision rules. Among other points, our discussion raises some challenges for characterising “cautious” reasoning using imprecise probabilities. Thus, we demonstrate a new way of systematically comparing imprecise probability systems, and we conclude that calibration inductive logics are surprisingly promising for making decisions. (shrink)

Some normative theories are self-defeating. They tell us to respond to our situations in ways that bring about outcomes that are bad, given the aims of the theories, and which could have been avoided. Across a wide range of debates in ethics, decision theory, political philosophy, and formal epistemology, many philosophers treat the fact that a normative theory is self-defeating as sufficient grounds for rejecting it. I argue that this widespread and consequential assumption is false. In particular, I argue that (...) a theory can be self-defeating and still internally consistent, action-guiding, and suitable as a standard for criticism. (shrink)

Theories of rational decision making often abstract away from computational and other resource limitations faced by real agents. An alternative approach known as resource rationality puts such matters front and center, grounding choice and decision in the rational use of finite resources. Anticipated by earlier work in economics and in computer science, this approach has recently seen rapid development and application in the cognitive sciences. Here, the theory of rationality plays a dual role, both as a framework for normative assessment (...) and as a source of scientific hypotheses about how mental processes in fact work. The latter project, often called rational analysis, depends for its success on a fine-grained characterization of the computational problem facing a decision maker, which may in turn depend on realistic assumptions about what the relevant agent is like. As a consequence, resource rationality involves a delicate, but often fruitful interplay between the normative and the descriptive. (shrink)

Our decision-theoretic states are not luminous. We are imperfectly reliable at identifying our own credences, utilities and available acts, and thus can never be more than imperfectly reliable at identifying the prescriptions of decision theory. The lack of luminosity affords decision theory a remarkable opportunity — to issue guidance on the basis of epistemically inaccessible facts. We show how a decision theory can guarantee action in accordance with contingent truths about which an agent is arbitrarily uncertain. It may seem that (...) such advantages would require dubiously adverting to externalist facts that go beyond the internalism of traditional decision theory, but this is not so. Using only the standard repertoire of decision-theoretic tools, we show how to modify existing decision theories to take advantage of this opportunity. These improved decision theories require agents to maximize conditional expected utility — expected utility conditional upon an agent’s actual decision situation. We call such modified decision theories ‘self-confident’. These self-confident decision theories have a distinct advantage over standard decision theories: their prescriptions are better. (shrink)

There are 1,000 of us and one victim. We each increase the level at which a "discomfort machine" operates on the victim---leading to great discomfort. Suppose that consecutive levels of the machine are so similar that the victim cannot distinguish them. Have we acted permissibly? According to the "no-difference argument" the answer is "yes" because each of our actions was guaranteed to make the victim no worse off. This argument is of interest because if it is sound, similar arguments threaten (...) intuitive moral verdicts about many cases in which a large number of individual choices cumulatively make a great difference, while each choice seems to make no difference on its own. But the argument is not sound, as is shown by a simple objection based on a plausible dominance principle---an objection that avoids challenges that have been brought against previous criticisms of the no difference argument. (shrink)

Los aspectos ético y moral se insertan en los problemas de la filosofía antigua, aspectos que han sido tenidos en cuenta como determinantes en la búsqueda de la vida feliz. Una de tantas propuestas fue desarrollada por el heleno Epicuro oriundo de la isla de Samos quien argumenta que el placer es el fin de la vida feliz. Tal identificación del placer con la felicidad ha sido fundamento para que otros pensadores cataloguen a este filósofo de libertino, promiscuo, antimoral, etc. (...) Así pues, el presente estudio se desarrolla desde una propuesta hermenéutica que contribuya a la interpretación veraz de la filosofía ética epicúrea. Además, se pretende argumentar desde la objetividad el verdadero sentido del placer rebatiendo toda opción que le perfila desde la práctica como elemento propicio para la lujuria, derroche, narcisismo; e inclusive impugnar aquellas conjeturas que profieren falacias en torno al tema en desarrollo. (shrink)

Countenancing unbounded utility in ethics gives rise to deep puzzles in formal decision theory. Here, these puzzles are taken as an invitation to assess the most fundamental principles relating probability and value, with the aim of demonstrating that unbounded utility in ethics is compatible with a desirable decision theory. The resulting theory frames further discussion of Expected Utility Theory and of principles concerning symmetries of utility.

No existing normative decision theory adequately handles risk. Expected Utility Theory is overly restrictive in prohibiting a range of reasonable preferences. And theories designed to accommodate such preferences (for example, Buchak's (2013) Risk‐Weighted Expected Utility Theory) violate the Betweenness axiom, which requires that you are indifferent to randomizing over two options between which you are already indifferent. Betweenness has been overlooked by philosophers, and we argue that it is a compelling normative constraint. Furthermore, neither Expected nor Risk‐Weighted Expected Utility Theory (...) allow for stakes‐sensitive risk‐attitudes—they require that risk matters in the same way whether you are gambling for loose change or millions of dollars. We provide a novel normative interpretation of Weighted‐Linear Utility Theory that solves all of these problems. (shrink)

It is a commonplace in economics that we should disregard sunk costs. The sunk cost effect might be widespread, goes the conventional wisdom, but we would be better off if we could rid ourselves of it. In this paper, I argue against the orthodoxy by showing that the sunk cost effect is often beneficial. Drawing on discussions of related topics in dynamic choice theory, I show that, in a range of cases, being disposed to honor sunk costs allows an agent (...) to mimic a resolute chooser, someone who adopts the best plan at the outset of a decision problem and sticks with it, even when resoluteness is unfeasible. I discuss several kinds of cases in which honoring sunk costs coincides with resolute choice. (shrink)

The deceptive strangeness of prescience in Dune is typical of Herbert's ideas. The ancient Babylonians were able to systematically predict astronomical events, but contemporary astrophysicists can forecast distant events beyond the Babylonians’ wildest dreams. Herbert describes the prescience of characters like Paul as a hyperawareness of possibilities and probabilities given certain choices, rather than being able to examine a fixed future. Common sense suggests that prescience should help us live together better. The Prisoner's Dilemma can be interpreted in different ways, (...) but the basic logic is always the same. The Prisoner's Dilemma is an imaginary interaction between “prisoners,” but it actually might make more sense with prescient characters from the Duniverse. Stuart Hampshire argued that self‐knowledge tends to have the opposite effect – that it makes us freer. Prescience is a vastly expanded understanding of possible and probable consequences given information and choices, not the observation of a fixed future. (shrink)

Orthodox decision theory is fanatical in the way it treats small probabilities of enormous value, if unbounded utility functions are allowed. Some have suggested a fix, Nicolausian discounting, according to which outcomes with small enough probabilities should be ignored when making decisions. However, there are lotteries involving only small-probability outcomes, none of which should intuitively be ignored. So the Nicolausian discounter needs a procedure for distinguishing the problematic cases of small-probability outcomes from the unproblematic ones. In this paper, I present (...) a dilemma for Nicolausian discounting: the view must be coupled either with a procedure that delivers fanatical verdicts of its own, as bad as those of orthodox decision theory, or with one that entails intransitive cyclic preferences. (shrink)

Decision theory is founded on the principle that we ought to take the action that has the maximum expected value from among actions we are in a position to take. But prior to the notion of expected value is the notion of the actual value of that action: roughly, a measure of the good outcomes you would in fact procure if you were to take it. Surprisingly many decision theories operate without an analysis of actual value. I offer a definition (...) of actual value, and show that a form of decision theory due to Stalnaker can be reformulated so as to be in line with the edict to maximize expected value. By contrast, I show that there is no quantity — given by my definition or otherwise — that plays the role of actual value in Jeffrey's decision theory. (shrink)

Decision theory is the study of how choices are and should be made.in a variety of different contexts. Here we look at the topic from a formal-philosophical point of view with a focus on normative and conceptual issues. After considering the question of how decision problems should be framed, we look at the both the standard theories of chance under conditions of certainty, risk and uncertainty and some of the current debates about how uncertainty should be measured and how agents (...) should respond to it. (shrink)

This chapter considers the controversial relationship between dynamic choice models, which depict a series of choices over time, and the more familiar static choice models, which depict a single ‘one-shot-only’ decision. An initial issue concerns how to reconcile the normative advice of these two models: Should an agent take account of the broader dynamic context when making a decision, and if so, in a sophisticated manner, or rather in a resolute manner? Further controversies concern what the dynamic implications of an (...) agent’s preferences reveal about the rationality of these preferences. (shrink)

Future-bias is the preference, all else being equal, for negatively valenced events be located in the past rather than the future, and positively valenced ones to be located in the future rather than the past. Strong risk aversion is the preference to pay some cost to mitigate the badness of the worst outcome. People who are both strongly risk averse and future-biased can face a series of choices that will guarantee them more pain, for no compensating benefit: they will be (...) pain pumped. Thus, combining these preferences is rationally impermissible. Dougherty (2011) argues that this gives us reason to think that future-bias is rationally impermissible. This argument, and a similar one presented by Greene and Sullivan (2015), relies on the idea that if several preferences are not rationally combinable, then in the absence of some explanation of why they are not combinable, we should conclude that (at least) one of them is rationally impermissible. We take up this question by, inter alia, reflecting on the empirical results of a study we ran that probes people’s risk averse and future-biased preferences. We argue that the data, in conjunction with other considerations, suggests that we should not infer from the irrationality of the combination of these preferences to the irrationality of one of the preferences singly. We also argue that given the descriptive data about these preferences, there is no reason to think that, if one of them is rationally impermissible, then it is future-bias. (shrink)

The case for the superiority of Conviction Narrative Theory (CNT) over probabilistic approaches rests on selective employment of a double standard. The authors judge probabilistic approaches inadequate for failing to apply to “grand-world” decision problems, while they praise CNT for its treatment of “small-world” decision problems. When both approaches are held to the same standard, the comparative question is murkier.

Several philosophers have proposed Knowledge-Based Decision Theories (KDTs)—theories that require agents to maximize expected utility as yielded by utility and probability functions that depend on the agent’s knowledge. Proponents of KDTs argue that such theories are motivated by Knowledge-Reasons norms that require agents to act only on reasons that they know. However, no formal derivation of KDTs from Knowledge-Reasons norms has been suggested, and it is not clear how such norms justify the particular ways in which KDTs relate knowledge and (...) rational action. In this paper, I suggest a new axiomatic method for justifying KDTs and providing them with stronger normative foundations. I argue that such theories may be derived from constraints on the relation between knowledge and preference, and that these constraints may be evaluated relative to intuitions regarding practical reasoning. To demonstrate this, I offer a representation theorem for a KDT proposed by Hawthorne and Stanley (2008) and briefly evaluate it through its underlying axioms. -/- In section 1, I present knowledge-based decision theories generally and the versions of such theories suggested in the literature. In section 2, I argue that KDTs and theories of practical reasoning conjoined with Knowledge-Reasons norms generate constraints on the same relation—the relation between knowledge and preference. In section 3, I present a formal framework in which constraints on this relation may be expressed and from which KDTs may be derived. In section 4, I present a representation theorem for a specific KDT. In section 5, I briefly evaluate the axioms of the theory, and in section 6, I conclude. (shrink)