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

Authors
Johan E. Gustafsson
University of York
Wlodek Rabinowicz
Lund University
Abstract
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.
Keywords money pumps  decision theory  cyclic preferences  cyclic preferences  dynamic choice  backward induction  transitivity
Categories (categorize this paper)
DOI 10.5840/jphil20201171037
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

PhilArchive copy


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 65,740
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

No references found.

Add more references

Citations of this work BETA

No citations found.

Add more citations

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.

Analytics

Added to PP index
2020-12-08

Total views
43 ( #254,132 of 2,462,825 )

Recent downloads (6 months)
7 ( #101,756 of 2,462,825 )

How can I increase my downloads?

Downloads

My notes