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  1. Vorlesungsskript: Grundlagen des Entscheidens I.Eckhart Arnold - manuscript
    This is a series of lectures on formal decision theory held at the University of Bayreuth during the summer terms 2008 and 2009. It largely follows the book from Michael D. Resnik: Choices. An Introduction to Decision Theory, 5th ed. Minneapolis London 2000 and covers the topics: -/- Decisions under ignorance and risk Probability calculus (Kolmogoroff Axioms, Bayes' Theorem) Philosophical interpretations of probability (R. v. Mises, Ramsey-De Finetti) Neuman-Morgenstern Utility Theory Introductory Game Theory Social Choice Theory (Sen's Paradox of Liberalism, (...)
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  2. Arguments against the Free Use of Beasts as Sexual Objects.John D. Baldari - manuscript
    In this paper, I intend to deny the morality and instrumentality of the behavior known as bestiality, or the use of non-human animals for sexual gratification by human beings. While to most modern peoples, this hardly even seems like it should be in question, it should be the nature of the human mind to occasionally question long-standing traditional moray in the hopes of finding solutions to problems and the disbanding of superstition. It has been proposed that the moral question, and (...)
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  3. Maximization of Originality.Miro Brada - manuscript
    The richer you are, the less equally rich or richer people. The richest is only one (=unique). Maximization of richness or leisure (=classic utility), maximizes the uniqueness (=improbability) that can be maximized also by: extreme sport, suicide, tattoo, count of views... The richest seem unique as the poorest, but the rich can easily become poor, while the poor can hardly get rich. So the aim of maximization reflects IQ and options. Few options increase irrationality, regardless of IQ. I also present (...)
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  4. We are Optimizers: Re-opening the Case for Rational Genuine Satisficing.Gary Goh - manuscript
    This paper critically reviews the arguments supporting rational genuine satisficing. The deconstructive effort unearths inherent problems with the position in both static and dynamic contexts. Many of these arguments build on Herbert Simon’s canonical arguments surrounding incommensurability and demandingness problems. Optimizing is re-constructed using the principles of instrumental satisficing to answer these charges. The resulting conception is both obviously undemanding and a recognizable response to focused decision making.
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  5. Assessing the Kantian Perspective on Valuing.Lantz Fleming Miller - manuscript
    Is the Kantian basis of valuing in humanity sufficient or sound enough to account for all valuing? At least two other such bases have been proposed across the ages, that of the sentiments and the valuing of life itself. This article focuses on the Kantian view, the first of these three possible bases of valuing. The concern is: by which criteria can we assess whether a given theory of or approach to basing a value is in fact usable and optimal, (...)
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  6. Interim Corpus Separatum for the Palestine Question. [REVIEW]Ciprian Pater - manuscript
    "Resolution of Jerusalem’s status arguably remains controversial because of the divergent analytical lenses through which the conflict’s parties, and others, view its intertwined legal, territorial, historical and religious issues. Thus, Jerusalem persists as an intricate and intractable cornerstone of the Israel-Palestine conflict." Diakonia International Humanitarian Law Resource Centre.
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  7. On Choosing how to Choose.Richard Pettigrew - manuscript
    A decision theory is self-recommending if, when you ask it which decision theory you should use, it considers itself to be among the permissible options. I show that many alternatives to expected utility theory are not self-recommending, and I argue that this tells against them.
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  8. Expected comparative utility theory: A new theory of instrumental rationality.David Robert - manuscript
    This paper aims to address the question of how one ought to choose when one is uncertain about what outcomes will result from one’s choices, but when one can nevertheless assign probabilities to the different possible outcomes. These choices are commonly referred to as choices (or decisions) under risk. I assume in this paper that one ought to make instrumentally rational choices—more precisely, one ought to adopt suitable means to one’s morally permissible ends. Expected utility (EU) theory is generally accepted (...)
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  9. Planning for Pascal's Mugging.Jeffrey Sanford Russell - manuscript
    In "Pascal's Mugging" (Bostrom 2009), Pascal gives away his wallet for an extremely tiny chance of an extremely large reward. In this continuation of Bostrom's story, Pascal's friend counsels him to take into account the possibility of making mistakes about his true expected utilities, and they consider to what extent this will help Pascal make plans to avoid future muggings.
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  10. Know Your Way Out of St. Petersburg: An Exploration of "Knowledge-First" Decision Theory.Frank Hong - forthcoming - Erkenntnis:1-20.
    This paper explores the consequences of applying two natural ideas from epistemology to decision theory: (1) that knowledge should guide our actions, and (2) that we know a lot of non-trivial things. In particular, we explore the consequences of these ideas as they are applied to standard decision theoretic puzzles such as the St. Petersburg Paradox. In doing so, we develop a “knowledge-first” decision theory and we will see how it can help us avoid fanaticism with regard to the St. (...)
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  11. The Structure of Good.David McCarthy - forthcoming - Oxford University Press.
  12. Social Preference Under Twofold Uncertainty.Philippe Mongin & Marcus Pivato - forthcoming - Economic Theory.
    We investigate the conflict between the ex ante and ex post criteria of social welfare in a new framework of individual and social decisions, which distinguishes between two sources of uncertainty, here interpreted as an objective and a subjective source respectively. This framework makes it possible to endow the individuals and society not only with ex ante and ex post preferences, as is usually done, but also with interim preferences of two kinds, and correspondingly, to introduce interim forms of the (...)
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  13. Time and the Decider.David Spurrett - forthcoming - Behavioral and Brain Sciences.
    Shadmehr and Ahmed’s book is a welcome extension of optimal foraging theory and neuroeconomics, achieved by integrating both with parameters relating to effort and rate of movement. Their most persuasive and prolific data comes from saccades, where times before and after decision are reasonably determinate. Skeletal movements are less likely to exhibit such tidy temporal organisation.
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  14. Affect, desire and interpretation.Robert Williams - forthcoming - Philosophical Studies.
    Are interpersonal comparisons of desire possible? Can we give an account of how facts about desires are grounded, that underpins such comparisons? This paper supposes the answer to the first question is yes, and provides an account of the nature of desire that explains how this is so. The account is a modification of the interpretationist metaphysics of representation that the author has recently been developing. The modification is to allow phenomenological affective valence into the “base facts” on which correct (...)
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  15. Ordinal Utility Differences.Jean Baccelli - 2024 - Social Choice and Welfare 62 ( 275-287).
    It is widely held that under ordinal utility, utility differences are ill-defined. Allegedly, for these to be well-defined (without turning to choice under risk or the like), one should adopt as a new kind of primitive quaternary relations, instead of the traditional binary relations underlying ordinal utility functions. Correlatively, it is also widely held that the key structural properties of quaternary relations are entirely arbitrary from an ordinal point of view. These properties would be, in a nutshell, the hallmark of (...)
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  16. The Pursuit of Happiness: Philosophical and Psychological Foundations of Utility, Louis Narens and Brian Skyrms. Oxford University Press, 2020, 208 pages. [REVIEW]Krister Bykvist & Johan E. Gustafsson - 2024 - Economics and Philosophy 40 (1):233-239.
  17. Ethics without numbers.Jacob M. Nebel - 2024 - Philosophy and Phenomenological Research 108 (2):289-319.
    This paper develops and explores a new framework for theorizing about the measurement and aggregation of well-being. It is a qualitative variation on the framework of social welfare functionals developed by Amartya Sen. In Sen’s framework, a social or overall betterness ordering is assigned to each profile of real-valued utility functions. In the qualitative framework developed here, numerical utilities are replaced by the properties they are supposed to represent. This makes it possible to characterize the measurability and interpersonal comparability of (...)
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  18. Two impossibility results for social choice under individual indifference intransitivity.Gustav Alexandrie - 2023 - Social Choice and Welfare 61:919–936.
    Due to the imperfect ability of individuals to discriminate between sufficiently similar alternatives, individual indifferences may fail to be transitive. I prove two impossibility theorems for social choice under indifference intransitivity, using axioms that are strictly weaker than Strong Pareto and that have been endorsed (sometimes jointly) in prior work on social choice under indifference intransitivity. The key axiom is Consistency, which states that if bundles are held constant for all but one individual, then society’s preferences must align with those (...)
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  19. How Should Risk and Ambiguity Affect Our Charitable Giving?Lara Buchak - 2023 - Utilitas 35 (3):175-197.
    Suppose we want to do the most good we can with a particular sum of money, but we cannot be certain of the consequences of different ways of making use of it. This article explores how our attitudes towards risk and ambiguity bear on what we should do. It shows that risk-avoidance and ambiguity-aversion can each provide good reason to divide our money between various charitable organizations rather than to give it all to the most promising one. It also shows (...)
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  20. Interpolating Decisions.Jonathan Cohen & Elliott Sober - 2023 - Australasian Journal of Philosophy 101 (2):327-339.
    Decision theory requires agents to assign probabilities to states of the world and utilities to the possible outcomes of different actions. When agents commit to having the probabilities and/or utilities in a decision problem defined by objective features of the world, they may find themselves unable to decide which actions maximize expected utility. Decision theory has long recognized that work-around strategies are available in special cases; this is where dominance reasoning, minimax, and maximin play a role. Here we describe a (...)
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  21. Unbounded Utility.Zachary Goodsell - 2023 - Dissertation, University of Southern California
  22. Graded Ratifiability.David James Barnett - 2022 - Journal of Philosophy 119 (2):57-88.
    An action is unratifiable when, on the assumption that one performs it, another option has higher expected utility. Unratifiable actions are often claimed to be somehow rationally defective. But in some cases where multiple options are unratifiable, one unratifiable option can still seem preferable to another. We should respond, I argue, by invoking a graded notion of ratifiability.
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  23. Attitudes toward risk are complicated: experimental evidence for the re-individuation approach to risk-attitudes.Haim Cohen, Anat Maril, Sun Bleicher & Ittay Nissan-Rozen - 2022 - Philosophical Studies 179 (8):2553-2577.
    We present experimental evidence that supports the thesis :602–625, 2015, Br J Philos Sci 70:77–102, 2019; Bradley in Decisions theory with a human face, Cambridge University Press, Cambridge, 2017; Goldschmidt and Nissan-Rozen in Synthese 198:7553–7575, 2021) that people might positively or negatively desire risky prospects conditional on only some of the prospects’ outcomes obtaining. We argue that this evidence has important normative implications for the central debate in normative decision theory between two general approaches on how to rationalize several common (...)
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  24. Utilitarianism versus the privileging of speech.Terence Rajivan Edward - 2022 - IJRDO Journal of Humanities and Social Science Research 8 (11):12.
    Apparently the Western philosophical tradition has (wrongly) preferred speech over writing – so claims Jacques Derrida. In this paper, I consider whether utilitarianism involves such a preference. There are at least two arguments against the claim.
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  25. Escaping the Cycle.J. Dmitri Gallow - 2022 - Mind 131 (521):99-127.
    I present a decision problem in which causal decision theory appears to violate the independence of irrelevant alternatives (IIA) and normal-form extensive-form equivalence (NEE). I show that these violations lead to exploitable behavior and long-run poverty. These consequences appear damning, but I urge caution. This decision should lead causalists to a better understanding of what it takes for a decision between some collection of options to count as a subdecision of a decision between a larger collection of options. And with (...)
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  26. Bentham’s Mugging.Johan E. Gustafsson - 2022 - Utilitas 34 (4):386-391.
  27. Money-Pump Arguments.Johan E. Gustafsson - 2022 - Cambridge: Cambridge University Press.
    Suppose that you prefer A to B, B to C, and C to A. Your preferences violate Expected Utility Theory by being cyclic. Money-pump arguments offer a way to show that such violations are irrational. Suppose that you start with A. Then you should be willing to trade A for C and then C for B. But then, once you have B, you are offered a trade back to A for a small cost. Since you prefer A to B, you (...)
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  28. A Paradox of Reusing Cultural Heritage: A Case Study of the Historic Centre of Macau.Teng Wai Lao - 2022 - Restauro Archeologico 2 (Special Issue 2022):302-307.
    After the WHS inscription of the Historic Centre of Macau in 2005, the relationship between citizens of Macau and their heritage is not distanced. Most of these monuments remain functional for religious and social purposes and are actively engaged in public commercial activities such as the annual Macau Light Festival. Several historic houses have been transformed into either a permanent library or a museum where people can experience various events. With such frequent interaction, these monuments are more than just heritage (...)
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  29. Aggregation Without Interpersonal Comparisons of Well‐Being.Jacob M. Nebel - 2022 - Philosophy and Phenomenological Research 105 (1):18-41.
    This paper is about the role of interpersonal comparisons in Harsanyi's aggregation theorem. Harsanyi interpreted his theorem to show that a broadly utilitarian theory of distribution must be true even if there are no interpersonal comparisons of well-being. How is this possible? The orthodox view is that it is not. Some argue that the interpersonal comparability of well-being is hidden in Harsanyi's premises. Others argue that it is a surprising conclusion of Harsanyi's theorem, which is not presupposed by any one (...)
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  30. Philosophy and Science of Risk: An Introduction.Isabelle Peschard, Yann Benétreau-Dupin & Christopher Wessels - 2022 - London: Routledge.
    What is risk? How do we assess risk? What are the ethical implications of risk? The concept of risk is important – sometimes even crucial – for many philosophical domains, from philosophy of science and technology to ethics and sustainability. Philosophy and Science of Risk is a clear, wide-ranging introduction to this urgent and fast-growing subject. It covers the following key topics: -/- • The philosophical and historical background to understanding and interpreting risk -/- • The meaning of risk and (...)
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  31. The past of predicting the future: A review of the multidisciplinary history of affective forecasting.Maya A. Pilin - 2021 - History of the Human Sciences 34 (3-4):290-306.
    Affective forecasting refers to the ability to predict future emotions, a skill that is essential to making decisions on a daily basis. Studies of the concept have determined that individuals are often inaccurate in making such affective forecasts. However, the mechanisms of these errors are not yet clear. In order to better understand why affective forecasting errors occur, this article seeks to trace the theoretical roots of this theory with a focus on its multidisciplinary history. The roots of affective forecasting (...)
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  32. A restatement of expected comparative utility theory: A new theory of rational choice under risk.David Robert - 2021 - Philosophical Forum 52 (3):221-243.
    In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...)
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  33. Infinite Prospects.Jeffrey Sanford Russell & Yoaav Isaacs - 2021 - Philosophy and Phenomenological Research 103 (1):178-198.
    People with the kind of preferences that give rise to the St. Petersburg paradox are problematic---but not because there is anything wrong with infinite utilities. Rather, such people cannot assign the St. Petersburg gamble any value that any kind of outcome could possibly have. Their preferences also violate an infinitary generalization of Savage's Sure Thing Principle, which we call the *Countable Sure Thing Principle*, as well as an infinitary generalization of von Neumann and Morgenstern's Independence axiom, which we call *Countable (...)
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  34. ‘Lost, Enfeebled, and Deprived of Its Vital Effect’: Mill’s Exaggerated View of the Relation Between Conflict and Vitality.Robert Mark Simpson - 2021 - Aristotelian Society Supplementary Volume 95 (1):97-114.
    Mill thinks our attitudes should be held in a way that’s active and ‘alive’. He believes attitudes that lack these qualities—those held dogmatically, or in unreflective conformity—are inimical to our well-being. This claim then serves as a premiss in his argument for overarching principles of liberty. He argues that attitudinal vitality, in the relevant sense, relies upon people experiencing attitudinal conflict, and that this necessitates a prioritization of personal liberties. I argue that, pace Mill, contestation isn’t required for attitudinal vitality. (...)
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  35. In Defence of Revealed Preference Theory.Johanna Thoma - 2021 - Economics and Philosophy 37 (2):163-187.
    This paper defends revealed preference theory against a pervasive line of criticism, according to which revealed preference methodology relies on appealing to some mental states, in particular an agent’s beliefs, rendering the project incoherent or unmotivated. I argue that all that is established by these arguments is that revealed preference theorists must accept a limited mentalism in their account of the options an agent should be modelled as choosing between. This is consistent both with an essentially behavioural interpretation of preference (...)
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  36. Transformative experience and the knowledge norms for action: Moss on Paul’s challenge to decision theory.Richard Pettigrew - 2020 - In John Schwenkler & Enoch Lambert (eds.), Becoming Someone New: Essays on Transformative Experience, Choice, and Change. Oxford University Press.
    to appear in Lambert, E. and J. Schwenkler (eds.) Transformative Experience (OUP) -/- L. A. Paul (2014, 2015) argues that the possibility of epistemically transformative experiences poses serious and novel problems for the orthodox theory of rational choice, namely, expected utility theory — I call her argument the Utility Ignorance Objection. In a pair of earlier papers, I responded to Paul’s challenge (Pettigrew 2015, 2016), and a number of other philosophers have responded in similar ways (Dougherty, et al. 2015, Harman (...)
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  37. Мертвые руки выбора группы и феноменологии - обзор «Индивидуальность и запутанность» (Individuality and Entanglement) by Herbert Gintis 357p (2017)357p (2017)(обзор пересмотрен 2019).Michael Richard Starks - 2020 - In ДОБРО ПОЖАЛОВАТЬ В АД НА НАШЕМ МИРЕ : Дети, Изменение климата, Биткойн, Картели, Китай, Демократия, Разнообразие, Диссигеника, Равенство, Хакеры, Права человека, Ислам, Либерализм, Процветание, Сеть, Хаос, Голод, Болезнь, Насилие, Искусственный интелле. Las Vegas, NV USA: Reality Press. pp. 263-275.
    Так как Гинтис является старшим экономистом, и я читал некоторые из его предыдущих книг с интересом, я ожидал еще несколько понимание поведения. Ксожалению, он делает мертвые руки группового отбора и меноменологии в центральными его теории поведения, и это в значительной степени недействительными работы. Хуже того, так как он показывает такие плохие суждения здесь, это ставит под сомнение все его предыдущие работы. Попытка воскресить выбор группы его друзьями в Гарварде, Новаком и Уилсоном, Несколько лет назад был одним из главных скандалов в (...)
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  38. Folk Psychology and the Interpretation of Decision Theory.Johanna Thoma - 2020 - Ergo: An Open Access Journal of Philosophy 7.
    Most philosophical decision theorists and philosophers of the social sciences believe that decision theory is and should be in the business of providing folk psychological explanations of choice behaviour, and that it can only do so if we understand the preferences, utilities and probabilities that feature in decision-theoretic models as ascriptions of mental states not reducible to choice. The behavioural interpretation of preference and related concepts, still common in economics, is consequently cast as misguided. This paper argues that even those (...)
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  39. The C** Word: Covid-19 and Calculation.Dimitris Vardoulakis - 2020 - The Philosophical Salon.
    Calculation is omnipresent in the current pandemic. And yet, Continental philosophers never talk about calculation: it seems to be the c** of philosophy. Why is that so? Has it always been like that?
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  40. Utility, Priorities, and Quiescent Sufficiency.Fausto Corvino - 2019 - Etica & Politica / Ethics & Politics 21 (3):525-552.
    In this article, I firstly discuss why a prioritarian clause can rescue the utilitarian doctrine from the risk of exacerbating inequality in the distribution of resources in those cases in which utility of income does not decline at the margin. Nonetheless, when in the presence of adaptive preferences, classic prioritarianism is more likely than utilitarianism to increase the inequality of resources under all circumstances, independently of the diminishing trend of utility. Hence, I propose to shift the informational focus of prioritarianism (...)
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  41. Principled Utility Discounting Under Risk.Kian Mintz-Woo - 2019 - Moral Philosophy and Politics 6 (1):89-112.
    Utility discounting in intertemporal economic modelling has been viewed as problematic, both for descriptive and normative reasons. However, positive utility discount rates can be defended normatively; in particular, it is rational for future utility to be discounted to take into account model-independent outcomes when decision-making under risk. The resultant values will tend to be smaller than descriptive rates under most probability assignments. This also allows us to address some objections that intertemporal considerations will be overdemanding. A principle for utility discount (...)
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  42. The Ideological Matrix of Science: Natural Selection and Immunity as Case Studies.Agustin Ostachuk - 2019 - Cosmos and History: The Journal of Natural and Social Philosophy 15 (1):182-213.
    The modern concept of ideology was established by the liberal politician and philosopher Destutt de Tracy, with the objective of creating an all-embracing and general science of ideas, which followed the sensualist and empiricist trend initiated by Locke that culminated in the positivism of Comte. Natural selection and immunity are two key concepts in the history of biology that were strongly based on the Malthusian concept of struggle for existence. This concept wrongly assumed that population grew faster than the means (...)
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  43. Ivan Moscati, "Measuring Utility". [REVIEW]William Peden - 2019 - British Journal for the Philosophy of Science Review of Books 1:1.
    In late-nineteenth-century economics, there was an epoch-defining shift from the labour theory of value to the marginal utility theory of value. According to the latter, the economic value of some circumstance (obtaining some good, some service, and so on) is its subjective utility at the margin. Thus, while there is an absolute sense in which I prefer having water to having diamonds, at the present moment I value one more unit of diamonds more than I value one more unit of (...)
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  44. Ekonomia altruizmu – o racjonalności zachowań prospołecznych.Magdalena Adamus - 2018 - Diametros 57:1-22.
    This paper presents considerations on altruism and prosocial behaviour formulated on the basis of some experiments with the ultimatum game. In the first part it will discuss relations between expected utility theories, the characteristics of homo oeconomicus and a modern understanding of altruism. It will focus in particular on conceptual differences, indicating that we can find more than one definition of altruism in modern literature. The second part of the text will provide an overview of selected behavioural theories of prosocial (...)
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  45. Rationality and Future Discounting.Arif Ahmed - 2018 - Topoi 39 (2):245-256.
    The best justification of time-discounting is roughly that it is rational to care less about your more distant future because there is less of you around to have it. I argue that the standard version of this argument, which treats both psychological continuity and psychological connectedness as reasons to care about your future, can only rationalize an irrational—because exploitable—form of future discounting.
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  46. Risk attitudes in axiomatic decision theory: a conceptual perspective.Jean Baccelli - 2018 - Theory and Decision 84 (1):61-82.
    In this paper, I examine the decision-theoretic status of risk attitudes. I start by providing evidence showing that the risk attitude concepts do not play a major role in the axiomatic analysis of the classic models of decision-making under risk. This can be interpreted as reflecting the neutrality of these models between the possible risk attitudes. My central claim, however, is that such neutrality needs to be qualified and the axiomatic relevance of risk attitudes needs to be re-evaluated accordingly. Specifically, (...)
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  47. Continuity and completeness of strongly independent preorders.David McCarthy & Kalle Mikkola - 2018 - Mathematical Social Sciences 93:141-145.
    A strongly independent preorder on a possibly in finite dimensional convex set that satisfi es two of the following conditions must satisfy the third: (i) the Archimedean continuity condition; (ii) mixture continuity; and (iii) comparability under the preorder is an equivalence relation. In addition, if the preorder is nontrivial (has nonempty asymmetric part) and satisfi es two of the following conditions, it must satisfy the third: (i') a modest strengthening of the Archimedean condition; (ii') mixture continuity; and (iii') completeness. Applications (...)
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  48. Towards an Ontological Modelling of Preference Relations.Daniele Porello & Giancarlo Guizzardi - 2018 - In C. Ghidini, B. Magnini, A. Passerini & P. Traverso (eds.), AI*IA 2018 - Advances in Artificial Intelligence - XVIIth International Conference of the Italian Association for Artificial Intelligence, Trento, Italy, November 20-23, 2018, Proceedings. Springer. pp. 152--165.
    Preference relations are intensively studied in Economics, but they are also approached in AI, Knowledge Representation, and Conceptual Modelling, as they provide a key concept in a variety of domains of application. In this paper, we propose an ontological foundation of preference relations to formalise their essential aspects across domains. Firstly, we shall discuss what is the ontological status of the relata of a preference relation. Secondly, we investigate the place of preference relations within a rich taxonomy of relations (e.g. (...)
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  49. Expected Comparative Utility Theory: A New Theory of Rational Choice.David Robert - 2018 - Philosophical Forum 49 (1):19-37.
    In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...)
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  50. Uncertainty and Probability within Utilitarian Theory.Jonathan Baron - 2017 - Diametros 53:6-25.
    Probability is a central concept in utilitarian moral theory, almost impossible to do without. I attempt to clarify the role of probability, so that we can be clear about what we are aiming for when we apply utilitarian theory to real cases. I point out the close relationship between utilitarianism and expected-utility theory, a normative standard for individual decision-making. I then argue that the distinction between “ambiguity” and risk is a matter of perception. We do not need this distinction in (...)
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