Journal of Business Ethics 7 (1-2):73 - 80 (1988)

Paul Weirich
University of Missouri, Columbia
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)
DOI 10.1007/BF00382000
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

PhilArchive copy

Upload a copy of this paper     Check publisher's policy     Papers currently archived: 68,975
External links

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

The Logic of Decision.Richard C. Jeffrey - 1965 - New York, NY, USA: University of Chicago Press.
.Daniel Kahneman & Shane Frederick - 2002 - Cambridge University Press.

View all 12 references / Add more references

Citations of this work BETA

Add more citations

Similar books and articles


Added to PP index

Total views
24 ( #470,645 of 2,498,262 )

Recent downloads (6 months)
1 ( #426,910 of 2,498,262 )

How can I increase my downloads?


My notes