Canadian Journal of Philosophy 45 (5):841-862 (2015)

Authors
Lara Buchak
Princeton University
Abstract
I have claimed that risk-weighted expected utility maximizers are rational, and that their preferences cannot be captured by expected utility theory. Richard Pettigrew and Rachael Briggs have recently challenged these claims. Both authors argue that only EU-maximizers are rational. In addition, Pettigrew argues that the preferences of REU-maximizers can indeed be captured by EU theory, and Briggs argues that REU-maximizers lose a valuable tool for simplifying their decision problems. I hold that their arguments do not succeed and that my original claims still stand. However, their arguments do highlight some costs of REU theory
Keywords Risk-weighted expected utility  Expected utility  Decision theory  Sure-thing principle  Risk  Accuracy  Allais paradox
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Reprint years 2015
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DOI 10.1080/00455091.2015.1125235
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References found in this work BETA

Risk and Rationality.Lara Buchak - 2013 - Oxford University Press.
Rationality and Dynamic Choice: Foundational Explorations.Edward Francis McClennen - 1990 - Cambridge, England: Cambridge University Press.
Credal Dilemmas.Sarah Moss - 2014 - Noûs 48 (3):665-683.

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