Given the endowment effect, the role of attention in decision-making, and the framing effect, most behavioral economists agree that it would be a mistake to accept the satisfaction of revealed preferences as the normative criterion of choice. Some have suggested that what makes agents better off is not the satisfaction of revealed preferences, but ‘true’ preferences, which may not always be observed through choice. While such preferences may appear to be an improvement over revealed preferences, some philosophers of economics have (...) argued that they face insurmountable epistemological, normative, and methodological challenges. This article introduces a new kind of true preference – values-based preferences – that blunts these challenges. Agents express values-based preferences when they choose in a manner that is compatible with a consumption plan grounded in a value commitment that is normative, affective, and stable for the agent who has one. Agents who choose according to their plans are resolute choosers. My claim is that while values-based preferences do not apply to every choice situation, this kind of preference provides a rigorous way for thinking about classic choice situations that have long interested behavioral economists and philosophers of economics, such as ‘Joe-in-the-cafeteria.’. (shrink)

We offer a new motivation for imprecise probabilities. We argue that there are propositions to which precise probability cannot be assigned, but to which imprecise probability can be assigned. In such cases the alternative to imprecise probability is not precise probability, but no probability at all. And an imprecise probability is substantially better than no probability at all. Our argument is based on the mathematical phenomenon of non-measurable sets. Non-measurable propositions cannot receive precise probabilities, but there is a natural way (...) for them to receive imprecise probabilities. The mathematics of non-measurable sets is arcane, but its epistemological import is far-reaching; even apparently mundane propositions are liable to be affected by non-measurability. The phenomenon of non-measurability dramatically reshapes the dialectic between critics and proponents of imprecise credence. Non-measurability offers natural rejoinders to prominent critics of imprecise credence. Non-measurability even reverses some of the critics’ arguments—by the very lights that have been used to argue against imprecise credences, imprecise credences are better than precise credences. (shrink)

In this article we discuss what we call the deliberative division of epistemic labor. We present evidence that the human tendency to engage in motivated reasoning in defense of our beliefs can facilitate the occurrence of divisions of epistemic labor in deliberations among people who disagree. We further present evidence that these divisions of epistemic labor tend to promote beliefs that are better supported by the evidence. We show that promotion of these epistemic benefits stands in tension with what extant (...) theories in epistemology take rationality to require in cases of disagreement. We argue that the epistemic benefits that result from the deliberative division of epistemic labor can provide epistemic reason to maintain confidence in cases of disagreement. We then show that the deliberative division of epistemic labor constitutes a distinct kind of epistemic dependence. (shrink)

Many moral theories incorporate the idea that when an action is wrong, it is wrong because that there was something else that the agent could and should have done instead. Most notable among these are consequentialist theories. According to consequentialism an action A is wrong if and only if there was another action B that the agent could have performed such that, if the agent had performed B instead of A, the consequences would have been better. Relatively little attention has (...) been given to the question of how to understand the meaning of ‘could have’ in this specific context. However, without an answer to this question, consequentialist theories fail to yield determinate verdicts about the deontic status of actions in real scenarios. It is here argued that the following conditional analysis provides the required answer and gives us the most plausible version of consequentialism: the agent could have done B instead of A if and only if, there is a decision such that had the agent made this decision, then she would have done B, and not A. Such a conditional analysis has been universally rejected as an analysis of the general meaning of ‘could have’, but we show that in the specific context of specifying the meaning of ‘could have’ in a consequentialist criterion of right and wrong action, all the standard objections to it fail. (shrink)

It is commonly recognized that not all actions are candidates for moral evaluation. For instance, morality is silent on the issue whether to tie one's right shoe before one's left shoe or the other way around. This shoe-tying action is not a candidate for moral appraisal. The matter is amoral, for neither alternative is morally required nor forbidden, and both are permissible. It is not commonly recognized that not all actions are candidates for prudential evaluation. I shall argue, however, that (...) there are cases of individual action over time, as well, that are aprudent in the sense that none of the alternatives under consideration are required or forbidden by prudence, but all of them are permissible. These are cases in which there is no fact of the matter as to what is the best choice for one. There are at least two such cases: first, cases in which the alternative courses of action open to one are incommensurable; and second, cases in which one's values are not yet determined and one is deciding what values to adopt, what sort of person to become, or what ideals to pursue. In these cases, prudence is silent on the question of what one ought to do. Indeed, I go on to argue prudence can even be silent on the question whether to act according to the values one currently holds or to pursue an entirely different course that will result in changes to one's values, which is the third case of aprudent choice. (shrink)

In this paper I investigate whether there are genuine and irreducible pressures of diachronic rationality grounded on the structure of the subject rather than on substantive considerations, such as pragmatic ones. I argue that structural pressures of diachronic rationality have a limited scope. The most important pressure only tells against arbitrary interference with the mechanisms for the retention of attitudes over time. I then argue that in the practical case, a substantial account in terms of the agent's temporal identity appears (...) more promising than a purely structural one, but in the end it still leaves many questions about diachronic practical rationality underdetermined. (shrink)