Attitudes toward risk are complicated: experimental evidence for the re-individuation approach to risk-attitudes

Philosophical Studies 179 (8):2553-2577 (2022)
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Abstract

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 patterns of preference, which are ruled out as irrational by orthodox decision theory, namely the re-individuation approach and the non-expected utility approach.

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Ittay Nissan-Rozen
Hebrew University of Jerusalem

Citations of this work

Patients, doctors and risk attitudes.Nicholas Makins - 2023 - Journal of Medical Ethics 49 (11):737-741.
Fairness and risk attitudes.Richard Bradley & Stefánsson H. Orri - 2023 - Philosophical Studies 180 (10-11):3179-3204.

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References found in this work

The Logic of Decision.Richard C. Jeffrey - 1965 - New York, NY, USA: University of Chicago Press.
Risk and Rationality.Lara Buchak - 2013 - Oxford, GB: Oxford University Press.
Theory of Games and Economic Behavior.John Von Neumann & Oskar Morgenstern - 1944 - Princeton, NJ, USA: Princeton University Press.

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