Both economists and psychologists are interested in understanding decision making under uncertainty. Yet, they rely on different concepts to analyse human behaviour: economists use economic preference parameters rooted in utility theory, while psychologists use personality traits to describe responses to uncertain situations. Using a large sample of university students, this study examines and contrasts five economic preference parameters and six psychological personality traits that are commonly used to study individuals’ attitudes towards uncertainty. A novelty of this paper is including both (...) the economic concept of ambiguity aversion as well as the personality trait of ambiguity intolerance. We find that standard economic preference measures based on incentivized choice tasks seem to capture rather different characteristics than psychological personality traits. In contrast, economic preference measures obtained from self-assessment questions appear more related to personality traits, especially ambiguity intolerance. (shrink)

This note argues that, under some circumstances, it is more rational not to behave in accordance with a Bayesian prior than to do so. The starting point is that in the absence of information, choosing a prior is arbitrary. If the prior is to have meaningful implications, it is more rational to admit that one does not have sufficient information to generate a prior than to pretend that one does. This suggests a view of rationality that requires a compromise between (...) internal coherence and justification, similarly to compromises that appear in moral dilemmas. Finally, it is argued that Savage's axioms are more compelling when applied to a naturally given state space than to an analytically constructed one; in the latter case, it may be more rational to violate the axioms than to be Bayesian. (shrink)

Gilboa and Schmeidler provide a paradigm for modelling decision making under uncertainty. Unlike the classical theory of expected utility maximization, case-based decision theory does not assume that decision makers know the possible 'states of the world' or the outcomes, let alone the decision matrix attaching outcomes to act-state pairs. Case-based decision theory suggests that people make decisions by analogies to past cases: they tend to choose acts that performed well in the past in similar situations, and to avoid acts (...) that performed poorly. It is an alternative to expected utility theory when both states of the world and probabilities are neither given in the problem nor can be easily constructed. The authors describe the general theory and its relationship to planning, repeated choice problems, inductive inference, and learning; they highlight its mathematical and philosophical foundations and compare it with expected utility theory as well as with rule-based systems. (shrink)

Economic theory reduces the concept of rationality to internal consistency. As far as beliefs are concerned, rationality is equated with having a prior belief over a “Grand State Space”, describing all possible sources of uncertainties. We argue that this notion is too weak in some senses and too strong in others. It is too weak because it does not distinguish between rational and irrational beliefs. Relatedly, the Bayesian approach, when applied to the Grand State Space, is inherently incapable of describing (...) the formation of prior beliefs. On the other hand, this notion of rationality is too strong because there are many situations in which there is not sufficient information for an individual to generate a Bayesian prior. It follows that the Bayesian approach is neither sufficient not necessary for the rationality of beliefs. (shrink)

Economic theory reduces the concept of rationality to internal consistency. As far as beliefs are concerned, rationality is equated with having a prior belief over a “Grand State Space”, describing all possible sources of uncertainties. We argue that this notion is too weak in some senses and too strong in others. It is too weak because it does not distinguish between rational and irrational beliefs. Relatedly, the Bayesian approach, when applied to the Grand State Space, is inherently incapable of describing (...) the formation of prior beliefs. On the other hand, this notion of rationality is too strong because there are many situations in which there is not sufficient information for an individual to generate a Bayesian prior. It follows that the Bayesian approach is neither sufficient not necessary for the rationality of beliefs. (shrink)

In the current debate about same-sex marriage, the great majority of writers belong to one of two camps: either completely in favor of same-sex marriage or completely against it. No effort is typically made to treat different dimensions of the problem differently. My approach, however, is to distinguish between two dimensions of the problem—between the right to marry a person of the same sex on the one hand, and the right to obtain public recognition of such marriage, on the other (...) hand. It turns out, then, that the best solution to the problem of samesex marriage may actually fall between the opposing camps, between unqualified rejection and unqualified recognition of same-sex marriage. Same-sex marriage ceremonies ought to be lawful, hence tolerated, but same-sex marriage need not be recognized; the benefits and protections of the marriage license may be denied to same-sex couples without discriminating against them. If sound, the argument of this paper as a whole demonstrates that, in the matter of same-sex marriage, a liberal democratic society, by virtue of the scope and flexibility of its institutions, is capable of reconciling majority rule and tradition with the demands of justice. (shrink)

Do axiomatic derivations advance positive economics? If economists are interested in predicting how people behave, without a pretense to change individual decision making, how can they benefit from representation theorems, which are no more than equivalence results? We address these questions. We propose several ways in which representation results can be useful and discuss their implications for axiomatic decision theory.

We suggest to define objective probabilities by similarity-weighted empirical frequencies, where more similar cases get a higher weight in the computation of frequencies. This formula is justified intuitively and axiomatically, but raises the question, which similarity function should be used? We propose to estimate the similarity function from the data, and thus obtain objective probabilities. We compare this definition to others, and attempt to delineate the scope of situations in which objective probabilities can be used.

The interpretation of economic theories varies along several dimensions. First, models can describe reality, illustrate a recommended state of affairs, or analyze the structure and implications of a theory. Second, theories can be used for prediction or for explanation. Third, theories can relate to reality in a rule-based or case-based manner. Fourth, theories can be statements about economic reality or about the act of economic reasoning itself. Fifth, theories can offer predictions or merely critique reasoning. We argue that theories are (...) often open to multiple interpretations which can shift depending on the context in which the theory is applied, the surrounding economic literature, and the argument made by the interpreter. (shrink)

We suggest to define objective probabilities by similarity-weighted empirical frequencies, where more similar cases get a higher weight in the computation of frequencies. This formula is justified intuitively and axiomatically, but raises the question, which similarity function should be used? We propose to estimate the similarity function from the data, and thus obtain objective probabilities. We compare this definition to others, and attempt to delineate the scope of situations in which objective probabilities can be used.

Abstract:I argue that, since the legal order is a public good, an act of legal punishment may be viewed as the imposition of a kind of tax, which I label ‘a quasi-tax’. Once punishment is viewed as a quasi-tax, the traditionally opposed approaches to punishment may be reconciled, as both utility and retribution jointly justify an act of legal punishment. I discuss objections to my argument and I reply to them.

Unimpressed by the exhortations of previous generations, our modern society accepts premarital sex. Advisably? In an attempt to answer this question, I shall make three related points, drawing on findings from evolutionary psychology and bargaining theory. First, premarital sex is potentially exploitative. Second, to allow premarital sex is not merely to extend a certain freedom, but indirectly to compel women to practice premarital sex, hence effectively to foster their exploitation. Third, some of the measures taken to combat the sexual exploitation (...) of single women can make matters worse, as the implementation of these measures tends to increase rather than decrease the level of the exploitation. (shrink)

A decision maker has to choose one of several random variables whose distributions are not known. As a Bayesian, she behaves as if she knew the distributions. In this paper we suggest an axiomatic derivation of these (subjective) distributions, which is more economical than the derivations by de Finetti or Savage. Whereas the latter derive the whole joint distribution of all the available random variables, our approach derives only the marginal distributions. Correspondingly, the preference questionnaire needed in our case is (...) less smaller. (shrink)

Many people believe that it is either morally obligatory, preferable or beneficial for an expectant father to be present at the delivery of his baby. An examination of the research literature, however, reveals no benefit that is generally available to participants. I argue, in addition, that it is not morally obligatory for an expectant father to be present at the delivery of his baby.

Ellsberg's (1961) famous paradox shows that decision-makers give events with ‘known’ probabilities a higher weight in their outcome evaluation. In the same article, Ellsberg suggests a preference representation which has intuitive appeal but lacks an axiomatic foundation. Schmeidler (1989) and Gilboa (1987) provide an axiomatisation for expected utility with non-additive probabilities. This paper introduces E-capacities as a representation of beliefs which incorporates objective information about the probability of events. It can be shown that the Choquet integral of an E-capacity (...) is the Ellsberg representation. The paper further explores properties of this representation of beliefs and provides an axiomatisation for them. (shrink)

Nationalism is often dismissed today as an irrational political creed with disastrous consequences. Yet most people regard their national identity as a significant aspect of themselves, see themselves as having special obligations to their compatriots, and value their nation's political independence. This book defends these beliefs, and shows that nationality, defined in these terms, serves valuable goals, including social justice, democracy, and the protection of culture. National identities need not be illiberal, and they do not exclude other sources of personal (...) identity, such as ethnicity or religion. An ethics that gives weight to special relationships is more effective in motivating people to pursue justice and other values because it connects peoples’ duties to their identity; but this is consistent with recognizing some universal values, such as human rights. There are strong reasons for making the boundaries of states and nations coincide wherever possible, but in other cases, nations can achieve forms of self‐determination that fall short of full sovereignty. Multicultural arguments in favour of identity politics and special rights for minority groups ignore the benefits that such groups derive from participating in a shared national identity and the kind of democratic politics that such an identity makes possible. Although national identities are often said to be in decline in an increasingly globalized world, they serve such important purposes that our aim should be to rebuild them in a form that makes them more accessible to excluded cultural minorities. (shrink)

The Philistines.—Hebrew monotheism.—Administration of Samuel.—Early Hebrew psalmody.—Exterior marks of the Prophet.—Modes of divination.—Foreigndangers of Israel.—Appointment of Saul.—Romantic Philistine campaign.—Ammonite inroad.—Enmity with Amalek.—Massacre of the Amalekites.—David, anointed by Samuel.—David, Saul’s armour-bearer.—David, Saul’s son-in-law. —David, a freebooter.—David with Achish of Gath.—David reinforced from Israel.—David’s return to Ziklag.—Battle of Mount Gilboa.

Long before the current dispute in the USA about the teaching of evolution, Hume's dialogues presented and critically analyzed the idea of intelligent design. What should we teach our children about the creation of the world? What should we teach them about religion? The characters Demea, Cleanthes, and Philo passionately present and defend different answers to that question. Demea opens the dialogue with a position derived from René Descartes and Father Malebranche — God's nature is a mystery, but God's existence (...) can be proved logically. Cleanthes attacks that view, both because it leads to mysticsm and because it attempts the impossible task of trying to establish existence on the basis of pure reason, without appeal to sense experience. As an alternative, he offers a proof of both God's existence and God's nature based on the same kind of scientific reasoning established by Copernicus, Galileo, and Newton. Taking a skeptical approach, Philo presents a series of arguments that question any attempt to use reason as a basis for religious faith. He suggests that human beings might be better off without religion. The dialolgue ends without genuine agreement among the characters, justifying Hume's choice of dialogue as the form of presentation. (shrink)

The purpose of this paper is to take some of the mystery out of what is known as nonmonotonic logic, by showing that it is not as unfamiliar as may at first sight appear. In fact, it is easily accessible to anybody with a background in classical propositional logic, provided that certain misunderstandings are avoided and a tenacious habit is put aside. In effect, there are logics that act as natural bridges between classical consequence and the principal kinds of nonmonotonic (...) logic to be found in the literature. Like classical logic, they are perfectly monotonic, but they already display some of the distinctive features of the nonmonotonic systems. As well as providing easy conceptual passage to the nonmonotonic case these logics, which we call paraclassical, have an interest of their own. (shrink)

In _Panpsychism in the West_, the first comprehensive study of the subject, David Skrbina argues for the importance of panpsychism -- the theory that mind exists, in some form, in all living and nonliving things -- in consideration of the nature of consciousness and mind. Despite the recent advances in our knowledge of the brain and the increasing intricacy and sophistication of philosophical discussion, the nature of mind remains an enigma. Panpsychism, with its conception of mind as a general (...) phenomenon of nature, uniquely links being and mind. More than a theory of mind, it is a meta-theory -- a statement about theories of mind rather than a theory in itself. Panpsychism can parallel almost every current theory of mind; it simply holds that, no matter how one conceives of mind, such mind applies to all things. In addition, panpsychism is one of the most ancient and enduring concepts of philosophy, beginning with its pre-historical forms, animism and polytheism. Its adherents in the West have included important thinkers from the very beginning of Greek philosophy through the sixteenth and seventeenth centuries to the present. Skrbina argues that panpsychism is long overdue for detailed treatment, and with this book he proposes to add impetus to the discussion of panpsychism in serious philosophical inquiries. After a brief discussion of general issues surrounding philosophy of mind, he traces the panpsychist views of specific philosophers, from the ancient Greeks and early Renaissance naturalist philosophers through the likes of William James, Josiah Royce, and Charles Sanders Peirce -- always with a strong emphasis on the original texts. In his concluding chapter, "A Panpsychist World View," Skrbina assesses panpsychist arguments and puts them in a larger context. By demonstrating that there is panpsychist thinking in many major philosophers, Skrbina offers a radical challenge to the modern worldview, based as it is on a mechanistic cosmos of dead, insensate matter. _Panpsychism in the West _will be the standard work on this topic for years to come. (shrink)

David Spurrett, David Papineau; A note on the completeness of ‘physics’, Analysis, Volume 59, Issue 1, 1 January 1999, Pages 25–29, https://doi.org/10.1093/anal.

Throughout the darkest moments of human history, evildoers have convinced communities to turn on groups that are regarded as in some way other and, by starting to think of them as less than human, persecute or even eliminate them. We can all recognize the unfathomable evils of dehumanization in slavery, the Holocaust, the Rwandan genocide, and the Jim Crow South, but we are not free from its power today. With climate change and political upheaval driving millions of refugees worldwide to (...) leave their homes, we are likely to see more and more of this ugly and persistent phenomenon. What are we to do? Drawing on his deep and wide-ranging knowledge of the history, psychology, and politics of dehumanization, David Livingstone Smith shows us how to recognize it and how to fight back. (shrink)

More attention has been devoted to providing evolutionary accounts of the development of beliefs, or belief-like states, than for desires or preferences. Here I articulate and defend an evolutionary rationale for the development of psychologically real preference states. Preferences token or represent the expected values available actions given discriminated states of world and agent. The argument is an application of the ‘environmental complexity thesis’ found in Godfrey-Smith and Sterelny, although my conclusions differ from Sterelny’s. I argue that tokening expected utilities (...) can, under specified general conditions, be a powerful design solution to the problem of efficiently allocating the capacities of an agent. Preferences are for efficient action selection, and count as a ‘fuel for success’ in the sense urged by Godfrey-Smith for true beliefs. They will tend to be favoured by selection when environments are complex in ways that matter to an organism, and when organisms have large behavioural repertoires with heterogeneous returns and costs.The rationale suggested here is conditional, especially on contingencies in what design options are available to selection and on trade-offs associated with the costs of generating and processing representations of value. The unqualified efficiency rationale for preferences suggests that organisms should represent expected utilities in a comprehensive and consistent way, but none of them do. In the final stages of the paper I consider some of the ways design trade-offs compromise the implementation of preferences in organisms that have them. (shrink)

Large-scale genetics cohort studies that link genotypic and phenotypic information hold special promise for clinical medicine, but they demand long-term investment and enduring trust from human research participants. Currently, there are a handful of large-scale studies that aim to succeed where others have failed, seeking to generate significant private-sector investment while preserving long-term interest and trust of studied communities. With project planners looking for new modes of managing such complex collective endeavors, the idea of using a charitable trust structure for (...) genomic biobanks has received increasing scholarly and policy attention. This article clarifies how thorny questions around property rights, the right to withdraw from research, access to materials, and funding might be handled within such a charitable trust structure to help produce a viable participatory framework for genomics. (shrink)

Stawarczyk, Bezdek, and Zacks offer neuroscience evidence for a midline default network core, which appears to coordinate internal, top‐down mentation with externally‐triggered, bottom‐up attention in a push‐pull relationship. The network may enable the flexible pursuance of thoughts tuned into or detached from the current environment.

Aware that the representational thesis is more plausible for the attitudinal than for the phenomenal, Dretske courageously focuses on sensory experience, where progress in our philosophical understanding of the mental has lagged. His view, essentially, is that what makes any mental state what it is is not so much what it's like as what it's about.

The “basic debate” in business ethics between shareholder theory and stakeholder theory has underlined the field since its inception, with wide ranging normative, descriptive, and instrumental arguments offered on both sides. We maintain that insofar as this is primarily a normative debate, clarity can be brought by elucidating how it is framed by the political philosophies of liberalism and libertarianism.With liberalism represented by John Rawls’s theory of justice and libertarianism represented by the ideas of Milton Friedman and Robert Nozick, and (...) Edward Freeman, the paper shows that both liberalism and libertarianism can be interpreted to justify shareholder and stakeholder theory respectively. The debate between shareholder theory and stakeholder theory is framed by liberal and libertarian justifications that hinge primarily on whether and to what extent one should have exogenous or endogenous safeguards on corporate behavior. Accordingly, political philosophy turns out to be highly relevant to both business ethics and corporate governance, not because the corporation resembles the state, but because of the potential safeguards placed on the corporation by the state. (shrink)

In this book, David Stump traces alternative conceptions of the a priori in the philosophy of science and defends a unique position in the current debates over conceptual change and the constitutive elements in science. Stump emphasizes the unique epistemological status of the constitutive elements of scientific theories, constitutive elements being the necessary preconditions that must be assumed in order to conduct a particular scientific inquiry. These constitutive elements, such as logic, mathematics, and even some fundamental laws of nature, (...) were once taken to be a priori knowledge but can change, thus leading to a dynamic or relative a priori. Stump critically examines developments in thinking about constitutive elements in science as a priori knowledge, from Kant’s fixed and absolute a priori to Quine’s holistic empiricism. By examining the relationship between conceptual change and the epistemological status of constitutive elements in science, Stump puts forward an argument that scientific revolutions can be explained and relativism can be avoided without resorting to universals or absolutes. (shrink)

In the popular press and the halls of politics, controversies over evolution are increasingly strident these days. Hegel is relevant in this connection, even though he rejected the theories of evolution he knew about, because he wanted rational understanding but without claims to intelligent design. He is reported to have said that nature has no history, but a closer examination will show that his ideaqs are more nuanced and that there is more room for darwinian ideas than one might expect, (...) though not enough to allow the full Darwinian contingency of form. (shrink)

Two prominent normative theories of business ethics are stakeholder and shareholder theory. Business ethicists generally favor the former, while business people prefer the latter. If the purpose of business ethics is “to produce a set of ethical principles that can be both expressed in language accessible to and conveniently applied by an ordinary business person” , then it is important to examine this dichotomy.While superficially attractive, the normative version of stakeholder theory contains numerous limitations. Since balancing multiple stakeholder preferences is (...) difficult, competing claims often become tests of political strength rather than justice. Furthermore, stakeholder theory has significant normative weaknesses.Although less attractive to academic ethicists, shareholder theory may provide superior results for society. The shareholder model focuses companies on meeting society’s material needs. Wise owners often balance other stakeholders’ views well since it is necessary for the business’s long-term success. Finally, shareholder theory has a strong normative basis in autonomy.In light of this analysis, it is incumbent upon academic business ethicists to emphasize the value of shareholder theory when teaching business ethics courses. (shrink)

David Wiggins; IV*—Moral Cognitivism, Moral Relativism and Motivating Moral Beliefs, Proceedings of the Aristotelian Society, Volume 91, Issue 1, 1 June 1991, P.

Stamos squarely confronts the problem of determining what a biological species is, whether species are real, and the nature of their reality. He critically considers the evolution of the major contemporary views of species and also offers his own solution to the species problem.

A discussion of the logical role of particular concepts in Robert Pippin's reading Hegel as a theorist of modernity, with special reference to the question whether modernity can be surpassed or left behind.

David Wiggins; II*—Deliberation and Practical Reason, Proceedings of the Aristotelian Society, Volume 76, Issue 1, 1 June 1976, Pages 29–52, https://doi.org/10.

Defining actions in contradistinction to mere happenings runs into the problem of specifying the role of the agent and separating what the agent does from what they exploit or suffer. Traditionally these problems have been approached by starting with a simple act, such as an incidental movement, and considering causality, or by seeking to elucidate the connection between the act and the agent's intentions or reasons. It is suggested here that a promising approach is to shift attention from 'simple' movements (...) and start instead by exploring the general character of acquired skills. Balancing the body is one such skill and serves here as an exemplar. Some remarks made by Reid on balance are used in a Peircean framework for perception to suggest that, at least for humans, an action is always the performance of an acquired skill. Also, while action is constitutive of perception, bodily perception is the basis of action, providing in a feeling of ownership direct knowledge of an asymmetric opposition between the agent and the world. (shrink)