Most of us are “time-biased” in preferring pains to be past rather than future and pleasures to be future rather than past. However, it turns out that if you are risk averse and time-biased, then you can be turned into a “pain pump”—in order to insure yourself against misfortune, you will take a series of pills which leaves you with more pain and better off in no respect. Since this vulnerability seems rationally impermissible, while time-bias and risk aversion seem rationally (...) permissible, we are left with a puzzle. (shrink)

It seems that, whereas a person's death needn't be a bad thing for him, it can be. In some circumstances, death isn't a "bad thing" or an "evil" for a person. For instance, if a person has a terminal and very painful disease, he might rationally regard his own death as a good thing for him, or at least, he may regard it as something whose prospective occurrence shouldn't be regretted. But the attitude of a "normal" and healthy human being (...) - adult or child - toward the prospect of his death is different; it is not unreasonable in certain cases to regard one's own death as a bad thing for oneself. If this is so, then the question arises as to why death is bad, in those cases in which it is bad. (shrink)

It is a platitude among decision theorists that agents should choose their actions so as to maximize expected value. But exactly how to define expected value is contentious. Evidential decision theory (henceforth EDT), causal decision theory (henceforth CDT), and a theory proposed by Ralph Wedgwood that this essay will call benchmark theory (BT) all advise agents to maximize different types of expected value. Consequently, their verdicts sometimes conflict. In certain famous cases of conflict—medical Newcomb problems—CDT and BT seem to get (...) things right, while EDT seems to get things wrong. In other cases of conflict, including some recent examples suggested by Andy Egan, EDT and BT seem to get things right, while CDT seems to get things wrong. In still other cases, EDT and CDT seems to get things right, while BT gets things wrong. It's no accident, this essay claims, that all three decision theories are subject to counterexamples. Decision rules can be reinterpreted as voting rules, where the voters are the agent's possible future selves. The problematic examples have the structure of voting paradoxes. Just as voting paradoxes show that no voting rule can do everything we want, decision-theoretic paradoxes show that no decision rule can do everything we want. Luckily, the so-called “tickle defense” establishes that EDT, CDT, and BT will do everything we want in a wide range of situations. Most decision situations, this essay argues, are analogues of voting situations in which the voters unanimously adopt the same set of preferences. In such situations, all plausible voting rules and all plausible decision rules agree. (shrink)

I argue that standard decision theories, namely causal decision theory and evidential decision theory, both are unsatisfactory. I devise a new decision theory, from which, under certain conditions, standard game theory can be derived.

The purpose of this paper is to present a new argument against so-called fitting attitude analyses of intrinsic value, according to which, roughly, for something to be intrinsically good is for there to be reasons to want it for its own sake. The argument is indirect. First, I submit that advocates of a fitting-attitude analysis of value should, for the sake of theoretical unity, also endorse a fitting-attitude analysis of a closely related but distinct concept: the concept of intrinsic value (...) for a person, i.e., the concept of welfare. Then I argue directly against fitting-attitude analyses of welfare. This argument, which is the focus of the paper, is based on the idea that whereas whether an event is good or bad for a person doesn’t change over time, the attitudes there is reason to have towards such an event can change over time. Therefore, one cannot explain the former in terms of the latter, as fitting-attitude analyses of welfare attempt to do. (shrink)

This study uses techniques from economics to illuminate fundamental questions in ethics, particularly in the foundations of utilitarianism. Topics considered include the nature of teleological ethics, the foundations of decision theory, the value of equality and the moral significance of a person's continuing identity through time.

An important feature of life is the temporal value asymmetry. Not to be confused with temporal discounting, the value asymmetry is the fact that we prefer future rather than past preferences be satisfied. Misfortunes are better in the past--where they are "over and done"--than in the future. Using recent work in empirical psychology and evolutionary theory, we develop a theory of the nature and causes of the temporal value asymmetry. The account we develop undercuts philosophy of time arguments such as (...) that of Prior (1959), but more importantly, also begins a serious study of an interesting but understudied feature of our valuations and emotional attitudes. While in the spirit of certain past sketches about the possible origins of the temporal value asymmetry, our theory improves on them in many significant respects and suggests many clear avenues of future study. More generally, our hope is that work on the temporal value asymmetry will eventually attain the degree of rigor and explanatory power that the discounting asymmetry presently enjoys, for like this latter asymmetry, we believe the temporal value asymmetry has relevance to many practical issues in decision-making. Our paper can thus be seen as a call for a more unified methodological treatment of the two temporal asymmetries. (shrink)