A Simpler, More Compelling Money Pump with Foresight

Journal of Philosophy 117 (10):578-589 (2020)
  Copy   BIBTEX


One might think that money pumps directed at agents with cyclic preferences can be avoided by foresight. This view was challenged two decades ago by the discovery of a money pump with foresight, which works against agents who use backward induction. But backward induction implausibly assumes that the agent would act rationally and retain her trust in her future rationality even at choice nodes that could only be reached if she were to act irrationally. This worry does not apply to BI-terminating decision problems, where at each choice node backward induction prescribes a move that terminates further action. For BI-terminating decision problems, it is enough to assume that rationality and trust in rationality are retained at choice nodes reachable by rational moves. The old money pump with foresight was not BI-terminating. In this paper, we present a new money pump with foresight, one that is both BI-terminating and considerably simpler.



    Upload a copy of this work     Papers currently archived: 91,219

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library

Similar books and articles

A centipede for intransitive preferrers.Wlodek Rabinowicz - 2000 - Studia Logica 67 (2):167-178.
A Deluxe Money Pump.Tom Dougherty - 2014 - Thought: A Journal of Philosophy 3 (1):21-29.
Money pump with foresight.Wlodek Rabinowicz - 2000 - In Michael J. Almeida (ed.), Imperceptible Harms and Benefits. pp. 123-154.
Money Pumps, Diachronic and Synchronic.Yair Levy - 2014 - Journal of Ethics and Social Philosophy:XX.
Cashing out the money-pump argument.Chrisoula Andreou - 2016 - Philosophical Studies (6):1-5.
Money Pumps, Incompleteness, and Indeterminacy.Johan E. Gustafsson - 2016 - Philosophy and Phenomenological Research 92 (1):60-72.
Opaque Sweetening and Transitivity.Ryan Doody - 2019 - Australasian Journal of Philosophy 97 (3):559-571.
Exploiting Cyclic Preference.Arif Ahmed - 2017 - Mind 126 (504):975-1022.


Added to PP

84 (#194,471)

6 months
18 (#129,673)

Historical graph of downloads
How can I increase my downloads?

Author Profiles

Johan E. Gustafsson
University of Texas at Austin
Wlodek Rabinowicz
Lund University

References found in this work

No references found.

Add more references