Ethics 129 (2):230-253 (2019)

Authors
Johanna Thoma
London School of Economics
Abstract
This article argues that Lara Buchak’s risk-weighted expected utility theory fails to offer a true alternative to expected utility theory. Under commonly held assumptions about dynamic choice and the framing of decision problems, rational agents are guided by their attitudes to temporally extended courses of action. If so, REU theory makes approximately the same recommendations as expected utility theory. Being more permissive about dynamic choice or framing, however, undermines the theory’s claim to capturing a steady choice disposition in the face of risk. I argue that this poses a challenge to alternatives to expected utility theory more generally.
Keywords risk-weighted expected utility theory  risk aversion  dynamic choice  expected utility theory  framing  rationality
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Reprint years 2019
DOI 10.1086/699256
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References found in this work BETA

Diachronic Rationality.Patrick Maher - 1992 - Philosophy of Science 59 (1):120-141.
Revisiting Risk and Rationality: A Reply to Pettigrew and Briggs.Lara Buchak - 2015 - Canadian Journal of Philosophy 45 (5):841-862.

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