This volume provides an overview of issues arising in work on the foundations of decision theory and social choice. The collection will be of particular value to researchers in economics with interests in utility or welfare, but also to any social scientist or philosopher interested in theories of rationality or group decision-making.

Describes and evaluates a number of existing criticisms of the formal theory of rationality and subjective expected utility theory. The author argues that rationality is not a behavioural entity, but rather has to do with the relation between an agent's preferences and his or her behaviour.

The paper argues against the polarisation of the health economics literature into pro- and anti-QALY camps. In particular, we suggest that a crucial distinction should be made between the QALY measure as a metric of health, and QALY maximisation as an applied social choice rule. We argue against the rule but for the measure and that the appropriate conceptualisation of health-care rationing decisions should see the main task as the integration of competing and possibly incommensurable normative claim types. We identify (...) the main types as consequences, rights, social contracts, individual votes and community values and note situations in which the contribution of each claim type is limited. We go on to show that the integration of (at least some of) these claim types can be formalised within the mathematical framework provided by non-linear programming. (shrink)

Offers a response to one of the oldest questions known to humankind namely, what is happiness and how can we ensure that communities are flourishing, happy places for people to live and work?

“Radical The paper provides a survey of arguments for claims that rational agents should have transitive preferences and argues that they are not valid. The presentation is based on a chapter for the forthcoming Oxford Handbook of Rational and Social Choice.

The book offers a novel account of human happiness suitable for the general or popular science reader. Drawing on evidence from psychology and economics, as well as recent thinking in ethics, Happiness Explained addresses two of the most important questions to humankind, namely, what is happiness and how can we take account of this in our everyday lives? The book starts by setting out what is wrong with focussing exclusively on gross national income as a measure of wellbeing and introduces (...) a novel approach developed by Nobel prize-winner Amartya Sen. It then considers evidence relating to different aspects of wellbeing from a wide range of economics and psychological studies. It also examines issues of fairness and wellbeing, the emergence of policies and practice around the world that seek to account for human wellbeing explicitly, and the principles that underpin wellbeing over the life course. (shrink)

In the context of multidimensional measures of well-being, a key question for policy is whether particular groups have differing priorities and are therefore likely to react differently to given economic or social shocks. We explore this issue by presenting the results of two related analyses that suggest positive answers on both counts. First, we apply reference class weights to unique data on adult capabilities in the UK and show that relative weights vary across some groupings. Furthermore, in some cases, deprivation (...) rankings of groups vary depending on which weights are used. Second, we explore possible behavioural consequences of different weights by examining the extent to which groups respond differently to three economic and social shocks (unemployment, widowhood and ill health). In this case, we find that weights and responses vary noticeably with age and region and sometimes with gender. We conclude that whilst equal weighting may be practically unavoidable when constructing indices of welfare in the absence of information on weights, their estimation from survey or experimental data is likely to be justified and may change views about policy needs or efficacy. (shrink)

© 2017. The American Astronomical Society. All rights reserved.We present new observations of the low-mass companion to HD 984 taken with the Gemini Planet Imager as a part of the GPI Exoplanet Survey campaign. Images of HD 984 B were obtained in the J and H bands. Combined with archival epochs from 2012 and 2014, we fit the first orbit to the companion to find an 18 au orbit with a 68% confidence interval between 14 and 28 au, an eccentricity (...) of 0.18 with a 68% confidence interval between 0.05 and 0.47, and an inclination of 119°with a 68% confidence interval between 114°and 125°. To address the considerable spectral covariance in both spectra, we present a method of splitting the spectra into low and high frequencies to analyze the spectral structure at different spatial frequencies with the proper spectral noise correlation. Using the split spectra, we compare them to known spectral types using field brown dwarf and low-mass star spectra and find a best-fit match of a field gravity M6.5 ±1.5 spectral type with a corresponding temperature of K. Photometry of the companion yields a luminosity of log=2.88 ± 0.07 dex with DUSTY models. Mass estimates, again from DUSTY models, find an age-dependent mass of 34 ±1 to 95 ±4 M Jup. These results are consistent with previous measurements of the object. (shrink)

This study used fMRI to investigate the neural substrates of moral cognition in health resource allocation decision problems. In particular, it investigated the cognitive and emotional processes that underpin utilitarian approaches to health care rationing such as Quality Adjusted Life Years. Participants viewed hypothetical medical and nonmedical resource allocation scenarios which described equal or unequal allocation of resources to different groups. In addition, participants were assigned to 1 of 2 treatments in which they either did or did not receive advanced (...) instructions about the principles of utilitarianism. In all cases, participants were asked to judged the proposed allocations as “fair” or “unfair.” More brain activity was observed within the superior parietal lobe, angular gyrus, middle temporal gyrus, and bilateral caudate nucleus when participants viewed scenarios depicting equal divisions of resources. Conversely, unequal resource divisions were associated with more activity in the inferior frontal gyrus and insula cortex. Furthermore, instructions about the principles of utilitarianism led to significant activation differences within the inferior frontal gyrus and the middle frontal gyrus. Significant differences in activity were also found within the inferior frontal cortex and anterior insula between medical and nonmedical scenarios. The implications for cognitive control mechanisms and the cognitive and neural bases of utilitarian ethical judgment are discussed. (shrink)

Book Reviews Conrad Heilmann, Economics and Philosophy, FirstView Article.

I examine social capital’s impact on financial reports. Based on the social capital literature, I predict that the quality of the financial reports is higher when a firm is headquartered in a region with high social capital. Consistent with this prediction, I find that the firms that are headquartered in this type of region in the USA have a lower probability of committing fraud by misrepresenting financial information. Further, I find that the firms in regions with high social capital have (...) lower levels of discretionary accruals and much more readable annual reports. (shrink)

When weighing up which inhaler to prescribe, a doctor may prioritise a patient’s preferences over the expected harms from the associated carbon emissions. Parker argues that this is wrong.1 Doctors have a pro-tanto duty to switch from a high-carbon metered-dose inhaler (MDI) to a low-carbon dry-powdered inhaler (DPI)—even though this provides no direct patient benefit—unless switching would undermine trust or significantly worsen a patient’s health. He goes on to state that even if DPIs are more expensive for the National Health (...) Service (NHS) then this is justified so long as it does not ‘significantly threaten’ the NHS’ ability to protect and promote health. This may appear to be a radical proposal, challenging the ethical principles of autonomy, health entitlements and justly distributed resources. However, we will claim that it is only radical in so far as one perceives (A) patient autonomy and healthcare entitlements as existing within a vacuum, unrelated to other foundational ethics concerns and (B) the health consequences of a given healthcare budget are limited solely to the designated recipients rather than all affected parties. Here, we test the claim that our responsibility for promoting patient autonomy …. (shrink)

Autumn Fiester's “Neglected Ends: Clinical Ethics Consultation and the Prospects for Closure” (2015) demonstrates how a focus on recommendations in clinical ethics consultations (CECs) can fail to...

Noam Chomsky and Frances Egan argue that David Marr’s computational theory of vision is not intentional, claiming that the formal scientific theory does not include description of visual content. They also argue that the theory is internalist in the sense of not describing things physically external to the perceiver. They argue that these claims hold for computational theories of vision in general. Beyond theories of vision, they argue that representational content does not figure as a topic within formal computational theories (...) in cognitive science. I demonstrate that Chomsky’s and Egan’s claims about Marr’s theory are false. Marr’s computational theory contains a mathematical theory of visual content, based on empirical psychophysical evidence. It also contains mathematical descriptions of distal physical surfaces and objects, and of their optic projection to the perceiver. Much computational research on vision contains these types of intentional and externalist components within the formal, mathematical, theories. Chomsky’s and Egan’s claims demonstrate inadequate study and understanding of Marr’s work and other research in this area. Computational theories of vision, by containing empirically based mathematical theories of visual content, to this extent present naturalizations of semantics. (shrink)

Sen’s capabilities approach offers a radical generalisation of the conventional approach to welfare economics. It has been highly influential in development and many researchers are now beginning to explore its implications for health care. This paper contributes to the emerging debate by discussing two examples of such applications: first, at the individual decision making level, namely the right to die, and second, at the social choice level. For the first application, which draws on Nussbaum’s list of capabilities, it is argued (...) that many capabilities are ambiguously or indirectly related to the right to die, but the ability to form a concept of the good life and plan one’s own life provides a direct justification for such a right. In the second application, the focus is specifically on healthcare rationing and it is argued that, although not committed to age based rationing, the capabilities approach provides a more natural justification of age related access to health care than the fair innings argument, which is often used to justify the alleged ageism inherent in quality adjusted life years maximisation. (shrink)

The Unified Medical Language System and the Gene Ontology are among the most widely used terminology resources in the biomedical domain. However, when we evaluate them in the light of simple principles for wellconstructed ontologies we find a number of characteristic inadequacies. Employing the theory of granular partitions, a new approach to the understanding of ontologies and of the relationships ontologies bear to instances in reality, we provide an application of this theory in relation to an example drawn from the (...) context of the pathophysiology of hypertension. This exercise is designed to demonstrate how, by taking ontological principles into account we can create more realistic biomedical ontologies which will also bring advantages in terms of efficiency and robustness of associated software applications. (shrink)

Many medicines currently available on the market are simply too expensive for millions around the world to afford. Many medicines available in the developing world are only available to a small percentage of the population due to economic inequities. The profit-seeking behavior of pharmaceutical companies exacerbates this problem. In most cases, the price reductions required to make drugs affordable to a broader class of people in the developing world are not offset by the resultant increase in sales volume. Simply stated, (...) in most of the developing world, it is more profitable to sell drugs to the very wealthy at high prices than it is to sell cheaper drugs to a greater number of people. As a result, medicines remain unaffordable for the vast majority of people in many parts of the world. While this might be an acceptable outcome for certain commodities, such as luxury goods, it is completely unacceptable for life-saving medicines. Therefore, in order to effectively address the global lack of access to medicines, the role pharmaceutical companies play in the international intellectual property regime must be critically examined. (shrink)

Approximately two billion people lack access to medicines globally. People living with HIV, cancer patients, those suffering from tuberculosis or malaria, and other populations in desperate need of life-saving medicines are increasingly unable to access existing preventative, curative, and life-prolonging treatments. In many cases, treatment may be unavailable or inaccessible for even some of the most common and readily treatable health concerns, such as hypertension. In the developing world, many of the factors that contribute to making the world’s most vulnerable (...) and marginalized populations particularly susceptible to illness also operate to restrict their access to medicines. As a result of dramatic economic inequities and widespread poverty, it is not profitable for most originator pharmaceutical companies to develop new medicines for sale in developing markets or to lower the cost of existing drugs so that they are affordable for the majority of these populations. (shrink)

The Norwegian Oil Fund (‘Government Pension Fund – Global’) is worth over NOK 10.6 trillion (USD 1.15 USD trillion)1 making it the largest sovereign wealth fund in the world (Norges Bank Investment...

Introduction: An ethnographer among the anthropologists -- The world at hand: between scientific and literary inquiry -- A method of experience: reading, writing, teaching, fieldwork -- For the humanity yet to come: politics, art, fiction, ethnography -- Coda: The anthropologist as critic.

There are three theories in the epistemology of modality that have received sustained attention over the past 20 years: conceivability-theory, counterfactual-theory, and deduction-theory. In this paper we argue that all three face what we call the problem of modal epistemic friction. One consequence of the problem is that for any of the three accounts to yield modal knowledge, the account must provide an epistemology of essence. We discuss an attempt to fend off the problem within the context of the internalism (...) versus externalism debate about epistemic justification. We then investigate the effects that the PMEF has on reductive and non-reductive theories of the relation between essence and modality. (shrink)

The sixteenth-century Marathi poet-saint Eknāth is better known for his devotional songs and allegorical drama-poems than his “philosophical” writings. These writings include commentaries on and distillations of Sanskrit texts that feature a highly localized form of Advaita, or non-dualist Vedānta. Rather than consider them vernacular translations of the classical traditions of Advaita, I propose to read Eknāth’s philosophical works as embedded in a local context of non-dualist thought that filtered into the elite world of Sanskrit knowledge-systems. I provide examples from (...) his Marathi commentary on the Sanskrit Hastāmalaka Stotra, a brief versified teaching on Advaita Vedānta. I also look at the para-textual material bracketing the content and some of the accompanying manuscript record, in order to understand the context for circulation and transmission of this material among Eknāth’s various readers over generations. My general attempt is to understand how ideas and practices belonging to local, vernacular networks filter into elite Sanskrit systems of knowledge—that is, not just into flexible genres like purāṇa but into disciplines, like Vedānta, that are generally viewed as impervious to the world around them. From my perspective, all knowledge is local, even that articulated in such cosmopolitan languages as Sanskrit. In Eknāth’s vernacular Advaita, we find evidence for a much wider scope for the movement of ideas, one that moves not from top-down but bottom-up. (shrink)

"A rough spade for a rugged landscape" : on savage selves and more civil places -- "What remains of the harvest when the fence grazes the crop?" : on the proper violence of agrarian citizenship -- "The life of the thief leaves the belly always boiling" : on the nature and restraint of the criminal animal -- "Millets sown yield millets, evil sown yields evil" : on the moral returns of agrarian toil -- "Let the water for the paddy also (...) irrigate the grass" : on the sympathies of an aqueous self. (shrink)

This edition includes a new introduction by Peter J. Gomes that reflects on the impact of this book in the years since it was written.