Money Pumps, Diachronic and Synchronic


Authors
Yair Levy
Tel Aviv University
Abstract
The Money Pump argument is designed to demonstrate the irrational flaw of having cyclic preferences, by showing how the irrational agent is vulnerable to exploitation. The argument faces some longstanding objections, which point out how one may avoid the threat of exploitation without resolving the associated irrationality. Recently a new, synchronic version of Money Pump has been put forward which promises to undercut those standard objections. However, I argue that the synchronic Money Pump cannot deliver on its promise: parallel objections can be reconstructed for this version, too, demonstrating that it ultimately does not improve on the original.
Keywords money pumps  transitivity  preferences  acyclicity  rationality
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Why Conditionalize.David K. Lewis - 1999 - In Antony Eagle (ed.), Philosophy of Probability: Contemporary Readings. Routledge. pp. 403-407.

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