Managing learning continuity is critical for successful MOOC learning. Thus, enabling learners to have learning persistence needs to be integrated into the MOOC learning design. Motivation effort is a critical component enabling students to maintain continuous MOOC learning. The expectancy–value theory explains why learners engage in learning: they have a higher perceived ability for learning success, place value on learning, and avoid psychological costs. However, it is unclear how these factors affect MOOC learning persistence and how (...) learners’ motivation is formed from this perspective. This experimental study explored how learners’ motivational variables affect their learning persistence, focusing on the expectancy–value theory. The results of this study indicated that academic self-efficacy and task value had significant positive effects on learning persistence. The structural relationship of antecedent, process, and outcome variables showed that teaching presence as an antecedent had a significantly positive effect on academic self-efficacy and task value. Among the three factors of the expectancy–value theory, only the task value influenced learning persistence through student engagement as a mediator. Based on the results, suggestions are provided for motivating MOOC environments that support learners’ continuous MOOC learning. (shrink)

Of the many possible individual factors bearing on test preparation, one is how individuals’ motivational and cognitive perceptions affect test-driven preparation practices. This study reports an investigation into test preparation of a high-stakes writing test from the perspective of expectancy-value theory. Undergraduate students on their test preparation for the writing tasks of China’s Graduate School Entrance English Examination were recruited voluntarily from 11 universities in mainland China. The perceptions of GSEEE test takers, which included goal, task (...) class='Hi'>value, task demand, and expectation of success, were identified. Five types of preparation practices were identified for the GSEEE writing tasks: memorizing practice, test familiarization, comprehensive learning, skills development and drilling practice. Structural equation modeling revealed that the expectancy-value model held up well for the paths from test takers’ perceptions to test-driven preparation practices, which were not construct-oriented but goal-motivated. The GSEEE test takers’ goal, determined by the high-stakes nature of admission test, explained their motivation and determined their behavior toward test preparation. Results also indicated that task demand was inadequate to be termed a strong factor in affecting test preparation. As such, the findings of this study offer evidence regarding how an expectancy-value model fit into test preparation mechanism and provide insights into the nature and scope of test preparation for high-stakes writing tests. (shrink)

Push-pull theory, consumer decision-making models and rational choice theory are commonly used to explain international student mobility. Despite their merits, the individual’s motivation to study abroad is ignored. Based on two motivation theories—expectancy-value theory and self-determination theory, this study examines whether students’ intention to study abroad originates from the students themselves or compromises social pressure and how the external factors defined in push-pull theory work with these motivations to affect their decision-making. A quantitative (...) study was conducted with a sample size of 736 international students in China. The findings show that the decision to study abroad is a highly subjective and intrinsically driven behavior in which realizing one’s self-worth or fulfilling one’s purpose of life plays the most significant role. Making a decision needs a “cost-benefits calculus,” but the utility value of study abroad was positioned behind attainment value and identified motivation. The heterogeneity of international students’ motivation was also differentiated by both their gender and their parents’ educational backgrounds. (shrink)

In this chapter I examine how expected-value theory might inform responses to what I call the dual-use problem. I begin by defining that problem. I then outline a procedure, which invokes expected-value theory, for tackling it. I first illustrate the procedure with the aid of a simplified schematic example of a dual-use problem, and then describe how it might also guide responses to more complex real-world cases. I outline some attractive features of the procedure. Finally, I (...) consider whether and how the procedure might be amended to accommodate various criticisms of it. (shrink)

The topic of this thesis is axiological uncertainty – the question of how you should evaluate your options if you are uncertain about which axiology is true. As an answer, I defend Expected Value Maximisation (EVM), the view that one option is better than another if and only if it has the greater expected value across axiologies. More precisely, I explore the axiomatic foundations of this view. I employ results from state-dependent utility theory, extend them in various (...) ways and interpret them accordingly, and thus provide axiomatisations of EVM as a theory of axiological uncertainty. (shrink)

:We address the question, in decision theory, of how the value of risky options should be assessed when they have no finite standard expected value, that is, where the sum of the probability-weighted payoffs is infinite or not well defined. We endorse, combine and extend the proposal of Easwaran to evaluate options on the basis of their weak expected value, and the proposal of Colyvan to rank options on the basis of their relative expected value.

A proposed 4-space Dirac theory requires modified definitions of expected value and Hermitian operator, because the charge density is not positive definite. However, this does not imply negative probability.

A mixture preorder is a preorder on a mixture space (such as a convex set) that is compatible with the mixing operation. In decision theoretic terms, it satisfies the central expected utility axiom of strong independence. We consider when a mixture preorder has a multi-representation that consists of real-valued, mixture-preserving functions. If it does, it must satisfy the mixture continuity axiom of Herstein and Milnor (1953). Mixture continuity is sufficient for a mixture-preserving multi-representation when the dimension of the mixture space (...) is countable, but not when it is uncountable. Our strongest positive result is that mixture continuity is sufficient in conjunction with a novel axiom we call countable domination, which constrains the order complexity of the mixture preorder in terms of its Archimedean structure. We also consider what happens when the mixture space is given its natural weak topology. Continuity (having closed upper and lower sets) and closedness (having a closed graph) are stronger than mixture continuity. We show that continuity is necessary but not sufficient for a mixture preorder to have a mixture-preserving multi-representation. Closedness is also necessary; we leave it as an open question whether it is sufficient. We end with results concerning the existence of mixture-preserving multi-representations that consist entirely of strictly increasing functions, and a uniqueness result. (shrink)

According to all-luck egalitarianism, the differential distributive effects of both brute luck, which defines the outcome of risks which are not deliberately taken, and option luck, which defines the outcome of deliberate gambles, are unjust. Exactly how to correct the effects of option luck is, however, a complex issue. This article argues that (a) option luck should be neutralized not just by correcting luck among gamblers, but among the community as a whole, because it would be unfair for gamblers as (...) a group to be disadvantaged relative to non-gamblers by bad option luck; (b) individuals should receive the warranted expected results of their gambles, except insofar as individuals blamelessly lacked the ability to ascertain which expectations were warranted; and (c) where societal resources are insufficient to deliver expected results to gamblers, gamblers should receive a lesser distributive share which is in proportion to the expected results. Where all-luck egalitarianism is understood in this way, it allows risk-takers to impose externalities on non-risk-takers, which seems counterintuitive. This may, however, be an advantage as it provides a luck egalitarian rationale for assisting ‘negligent victims’. (shrink)

Decision theory is founded on the principle that we ought to take the action that has the maximum expected value from among actions we are in a position to take. But prior to the notion of expected value is the notion of the actual value of that action: roughly, a measure of the good outcomes you would in fact procure if you were to take it. Surprisingly many decision theories operate without an analysis of actual (...) class='Hi'>value. I offer a definition of actual value, and show that a form of decision theory due to Stalnaker can be reformulated so as to be in line with the edict to maximize expected value. By contrast, I show that there is no quantity — given by my definition or otherwise — that plays the role of actual value in Jeffrey's decision theory. (shrink)

Rational choice models are characterized by the image of the self-interested Homo economicus. The role of moral concerns, which may involve a concern for others' welfare in people's judgments and choices, questions the descriptive validity of such models. Increasing evidence of a role for perceived moral obligation within the expectancy-value-based theory of reasoned action and the theory of planned behavior indicates the importance of moral-normative influences in social behavior. In 2 studies, the influence of moral judgments (...) on attitudes toward food produced with the use of genetic engineering techniques and toward meat consumption is addressed. The reasons participants provide for their moral judgments indicate some foci of their moral concerns. The results of both studies corroborate earlier findings that perceived moral obligation has independent effects on behavioral intentions; they also provide evidence that such judgments may affect attitudes themselves. The results are discussed in relation to the need for attitude-behavior models to reflect the role of moral evaluations in judgment and choice. (shrink)

Maximize Expected Choiceworthiness (MEC) is a theory of decision-making under moral uncertainty. It says that we ought to handle moral uncertainty in the way that Expected Value Theory (EVT) handles descriptive uncertainty. MEC inherits from EVT the problem of fanaticism. Roughly, a decision theory is fanatical when it requires our decision-making to be dominated by low-probability, high-payoff options. Proponents of MEC have offered two main lines of response. The first is that MEC should simply import whatever (...) are the best solutions to fanaticism on offer in decision theory. The second is to propose statistical normalization as a novel solution on behalf of MEC. This paper argues that the first response is open to serious doubt and that the second response fails. As a result, MEC appears significantly less plausible when compared to competing accounts of decision-making under moral uncertainty, which are not fanatical. (shrink)

According to the axiologist the value concepts are basic and the deontic concepts are derivative. This paper addresses two fundamental problems that arise for the axiologist. Firstly, what ought the axiologist o understand by the value of an act? Second, what are the prospects in principle for an axiological representation of moral theories. Can the deontic concepts of any coherent moral theory be represented by an agent-netural axiology: (1) whatever structure those concepts have and (2) whatever the (...) causal structure of the world happens to be. We show that the answer is "almost always". The only substantive constraint is that autonomous moral agents cannot have the power to simultaneously block the options open to other autonomous moral agents. But this seems to be part and parcel of the notion of an autonomous moral agent. (shrink)

The principle that rational agents should maximize expected utility or choiceworthiness is intuitively plausible in many ordinary cases of decision-making under uncertainty. But it is less plausible in cases of extreme, low-probability risk (like Pascal's Mugging), and intolerably paradoxical in cases like the St. Petersburg and Pasadena games. In this paper I show that, under certain conditions, stochastic dominance reasoning can capture most of the plausible implications of expectational reasoning while avoiding most of its pitfalls. Specifically, given sufficient background uncertainty (...) about the choiceworthiness of one's options, many expectation-maximizing gambles that do not stochastically dominate their alternatives "in a vacuum" become stochastically dominant in virtue of that background uncertainty. But, even under these conditions, stochastic dominance will not require agents to accept options whose expectational superiority depends on sufficiently small probabilities of extreme payoffs. The sort of background uncertainty on which these results depend looks unavoidable for any agent who measures the choiceworthiness of her options in part by the total amount of value in the resulting world. At least for such agents, then, stochastic dominance offers a plausible general principle of choice under uncertainty that can explain more of the apparent rational constraints on such choices than has previously been recognized. (shrink)

Bike sharing, as an innovative travel mode featured by mobile internet and sharing, offers a new transport mode for short trips and has a huge positive impact on urban transportation and environmental protection. However, bike-sharing operators face some operational challenges, especially in sustainable development and profitability. Studies show that the customers’ willingness to pay is a key factor affecting bike-sharing companies’ operating conditions. Based on the theories of perceived value, this study conducts an empirical analysis of factors that affect (...) bike-sharing users’ willingness to pay for bike-sharing through measurement scales, user surveys, and structural equation models. We designed a five-point Likert-type scale containing 11 latent variables affecting willingness to pay and a total of 34 measurement items. We investigate bike-sharing users in China’s first and second-tier cities, with a total of 502 participants. The results show that perceived value, payment awareness, trust, and environmental awareness constitute key factors that directly affect bike-sharing users’ willingness to pay. And perceived usefulness, perceived ease-of-use, perceived cost, and perceived risk indirectly affect bike-sharing users’ willingness to pay. However, we found no significant effects of perceived entertainment on perceived value or word of mouth on willingness to pay. Our results are expected to provide theoretical and practical implications for bike-sharing programs. (shrink)

Character strengths are widely studied positive traits considered to be “values in action,” reflecting morally valued virtues. They are hypothesized to serve as pathways to the manifestation of values in life for the benefit of individuals and societies. However, there is surprisingly limited theoretical writing and empirical research on the expected links of character strengths with specific values [e.g., as defined by Schwartz ] or on character strengths as the pathway for behavioral and social manifestations of these values. In this (...) paper, we delineate theoretical links between the two theories and outline their implications. We then provide an initial empirical examination of a specific character strength – gratitude, as a pathway from Schwartz’s self-transcendence values to prosocial behavior and peer acceptance, in two samples of adolescents. The findings indicated that most pathways were significant, providing initial support for the theoretical model. However, in one of the samples, the indirect path from self-transcendence values to prosocial behavior was only marginally significant. Taken together, the findings point to the need for further research on the role of character strengths in creating a pathway from values to various social outcomes. (shrink)

Sometimes we believe that others receive harmful information. However, Marschak’s value of information framework always assigns non-negative value under expected utility: it starts from the decision maker’s beliefs – and one can never anticipate information’s harmfulness for oneself. The impact of decision makers’ capabilities to process information and of their expectations remains hidden behind the individual and subjective perspective Marschak’s framework assumes. By introducing a second decision maker as a point of reference, this paper introduces a way for (...) evaluating others’ information from a cross-individual, imperfect expectations perspective for agents maximising expected utility. We define the cross-value of information that can become negative – then the information is “harmful” from a cross-individual perspective – and we define (mutual) cost of limited information processing capabilities and imperfect expectations as an opportunity cost from this same point of reference. The simple relationship between these two expected utility-based concepts and Marschak’s framework is shown, and we discuss evaluating short-term reactions of stock market prices to new information as an important domain of valuing others’ information. (shrink)

TheoryDigital technologies have become an integral part of everyday life that children are exposed to. Therefore, it is important for children to acquire an understanding of these technologies early on by teaching them computational thinking as a part of STEM. However, primary school teachers are often reluctant to teach CT. Expectancy-value theory suggests that motivational components play an important role in teaching and learning. Thus, one hindrance to teachers’ willingness to teach CT might be their low expectancies (...) of success and high emotional costs, e.g., anxiety towards CT. Thus, introducing preservice teachers to CT during their university years might be a promising way to support their expectancies and values, while simultaneously alleviating their emotional costs. Prior CT competences might contribute to these outcomes.AimsWe investigated whether a specifically designed seminar on CT affected preservice teachers’ expectancies and values towards programming.Method: A total of 311 German primary school and special education preservice teachers took part in the study. The primary school preservice teachers received a seminar on CT and programming with low-threshold programming tasks, while the special education teachers served as a baseline group. The seminar was specifically designed to enhance expectancies and values and decrease emotional costs, following implications of research on expectancy-value theory.ResultsThe preservice teachers who visited the seminar gained higher expectancies and values towards CT and programming compared to the baseline group. Moreover, their emotional costs decreased. CT was positively related to change in expectancies and values and negatively related to emotional costs.DiscussionInterventions with low-threshold programming tasks can support primary school preservice teachers in finding trust in their abilities and values towards CT. Moreover, their anxiety towards CT and programming can be alleviated. Thus, first steps in preparing preservice teachers to teach CT in their future classrooms can be taken in university. (shrink)

This study explores the effect of a short ethics intervention—a chapter of business ethics in a business course—on perceptions of business courses and personal values toward making money and making ethical decisions and Monetary Intelligence. Since attitudes predict intentions and behaviors, Monetary Intelligence, a form of social intelligence, is defined as the extent to which individuals monitor their own monetary motive, behavior, and cognition; apply the information to evaluate critical concerns and options; select strategies to achieve financial goals; and reach (...) ultimate success and subjective well-being. I theorize that the affective aspect of MI is unrelated to perceptions of “course work,” yet it is positively related to their “personal values” toward making money, but negatively related to making ethical decisions. Individuals with high MI have low interests in making money, but high levels of intrinsic religiosity and recall of the Ten Commandments and high interests in making ethical decisions and making the grade. Based on data from multiple panels and multiple sources, this study provides the following discoveries. Contrary to expectations, there are no differences in students’ perceptions of course work and their personal values toward making money and making ethical decisions between two measures—before and after the ethics intervention. Results of this study not only provide empirical supports for the bright side of theory of Monetary Intelligence but also reveal a new paradox—recall of the Ten Commandments is positively related to making ethical decisions, but negatively related to making money. Results illustrate important theoretical, empirical, and practical implications to the literature of money attitudes, religiosity, intrinsic motivation, and business ethics. (shrink)

Over the past twenty-five years, or so, considerable advances have been made in understanding how learning occurs in the brain, though much of this research is still to make its way into education. One contribution it should be making is to furnish the philosophical critique of past and current theory with supporting empirical evidence. For example, motivation theory and its cognate expectancy-value theory continue to be taught in teacher education, even though their rational cognitivist foundations (...) are philosophically shaky, and their shared representational notion of the mind is incompatible with what is now known about the learning brain. Furthermore, the central claim of motivation theory that children need to be motivated in order to learn is educationally problematic, not least because it incorporates a deficit model of the child as learner. This paper provides a philosophical and educational critique of motivation and expectancy-value theories and begins to sketch out an alternative dynamic systems approach, which argues that value is deeply embedded in the learning process, not only in the value students may or may not attach to their learning, but also neurobiologically. In opposition to motivation and its notion of the learner this paper argues that every student is equipped with a brain that is value-orientated towards learning and will learn, when nested in suitably affordant learning environments. In place of expectancy-value, we argue for value-embedded learning, which provides a non-reductive and biologically plausible account of how value and emotional salience are dynamically interwoven in the learning process. (shrink)

A relation is obtained between weak values of quantum observables and the consistency criterion for histories of quantum events. It is shown that “strange” weak values for projection operators always correspond to inconsistent families of histories. It is argued that using the ABL rule to obtain probabilities for counterfactual measurements corresponding to those strange weak values gives inconsistent results. This problem is shown to be remedied by using the conditional weight, or pseudo-probability, obtained from the multiple-time application of Lüders’ Rule. (...) It is argued that an assumption of reverse causality implies that weak values obtain, in a restricted sense, at the time of the weak measurement as well as at the time of post-selection. Finally, it is argued that weak values are more appropriately characterized as multiple-time amplitudes than expectation values, and as such can have little to say about counterfactual questions. (shrink)

A relation is obtained between weak values of quantum observables and the consistency criterion for histories of quantum events. It is shown that “strange” weak values for projection operators always correspond to inconsistent families of histories. It is argued that using the ABL rule to obtain probabilities for counterfactual measurements corresponding to those strange weak values gives inconsistent results. This problem is shown to be remedied by using the conditional weight, or pseudo-probability, obtained from the multiple-time application of Lüders’ Rule. (...) It is argued that an assumption of reverse causality implies that weak values obtain, in a restricted sense, at the time of the weak measurement as well as at the time of post-selection. Finally, it is argued that weak values are more appropriately characterized as multiple-time amplitudes than expectation values, and as such can have little to say about counterfactual questions. (shrink)

ABSTRACT: A relation is obtained between weak values of quantum observables and the consistency criterion for histories of quantum events. It is shown that ``strange'' weak values for projection operators always correspond to inconsistent families of histories. It is argued that using the ABL rule to obtain probabilities for counterfactual measurements corresponding to those strange weak values gives inconsistent results. This problem is shown to be remedied by using the conditional weight, or pseudo-probability, obtained from the multiple-time application of Luders' (...) Rule. It is argued that an assumption of reverse causality implies that weak values obtain, in a restricted sense, at the time of the weak measurement as well as at the time of post-selection. Finally, it is argued that weak values are more appropriately characterised as multiple-time amplitudes than expectation values, and as such can have little to say about counterfactual questions. (shrink)

This article aims to investigate the way in which a political theory of justice should respond to the endorsement of pluralism. After offering reasons in support of the necessity for such a theory to take pluralism seriously, an argument is put forward for its characterization in minimal and procedural terms. However, taking issue with the straightforward relationship of implication identified by a number of scholars between pluralism and procedural justice, this article contends that a direct relation can only (...) be established between pluralism and the need to define a minimal theory of justice, i.e. a theory that assumes as little as possible in terms of values and views of the world. Its procedural formulation is seen, instead, as a consequence of the limited predictive power of theory facing the heterogeneous situations with which it is expected to deal. (shrink)

We introduce an expected-value theory of linguistic modality that makes reference to expected utility and a likelihood-based confirmation measure for deontics and epistemics, respectively. The account is a probabilistic semantics for deontics and epistemics, yet it proposes that deontics and epistemics share a common core modal semantics, as in traditional possible-worlds analysis of modality. We argue that this account is not only theoretically advantageous, but also has far-reaching empirical consequences. In particular, we predict modal versions of reasoning fallacies (...) from the heuristics and biases literature. Additionally, we derive the modal semantics in an entirely transparent manner, as it is based on the compositional semantics of Korean modal expressions that are morphosyntactically decomposed into a conditional and an evaluative predicate. (shrink)

This paper introduces a logical analysis of convex combinations within the framework of Łukasiewicz real-valued logic. This provides a natural link between the fields of many-valued logics and decision theory under uncertainty, where the notion of convexity plays a central role. We set out to explore such a link by defining convex operators on MV-algebras, which are the equivalent algebraic semantics of Łukasiewicz logic. This gives us a formal language to reason about the expected value of bounded random (...) variables. As an illustration of the applicability of our framework we present a logical version of the Anscombe–Aumann representation result. (shrink)

A generalization of the usual approach to the expected utility theory is given, with the aim of representing the state of belief of an agent who may decline on grounds of ignorance to express a preference between a given pair of acts and would, therefore, be considered irrational from a Bayesian point of view. Taking state, act, and outcome as primitive concepts, a utility function on the outcomes is constructed in the usual way. Each act is represented by a (...) utility-valued function on the states — but not all such functions are taken to represent acts. A weaker than usual set of axioms on preferences between acts is now postulated. It is shown that any agent can be represented by a risk function that assigns to each (mixed) state a number that gives the maximum loss (in utility) the agent might expect should be the actual state of the world. The form of the risk function is determined, both in general and in important particular cases. The results show that any rational agent behaves as though he were acting under the guidance of a set of Bayesian (or, more generally, pseudo-Bayesian) advisors. (shrink)

A probability forecast scored ex post using a probability scoring rule (e.g. Brier) is analogous to a risky financial security. With only superficial adaptation, the same economic logic by which securities are valued ex ante – in particular, portfolio theory and the capital asset pricing model (CAPM) – applies to the valuation of probability forecasts. Each available forecast of a given event is valued relative to each other and to the “market” (all available forecasts). A forecast is seen to (...) be more valuable the higher its expected score and the lower the covariance of its score with the market aggregate score. Forecasts that score highly in trials when others do poorly are appreciated more than those with equal success in “easy” trials where most forecasts score well. The CAPM defines economically rational (equilibrium) forecast prices at which forecasters can trade shares in each other’s ex post score – or associated monetary payoff – thereby balancing forecast risk against return and ultimately forming optimally hedged portfolios. Hedging this way offers risk averse forecasters an “honest” alternative to the ruse of reporting conservative probability assessments. (shrink)

How ought you to evaluate your options if you're uncertain about what's fundamentally valuable? A prominent response is Expected Value Maximisation (EVM)—the view that under axiological uncertainty, an option is better than another if and only if it has the greater expected value across axiologies. But the expected value of an option depends on quantitative probability and value facts, and in particular on value comparisons across axiologies. We need to explain what it is for such (...) facts to hold. Also, EVM is by no means self-evident. We need an argument to defend that it’s true. This book introduces an axiomatic approach to answer these worries. It provides an explication of what EVM means by use of representation theorems: intertheoretic comparisons can be understood in terms of facts about which options are better than which, and mutatis mutandis for intratheoretic comparisons and axiological probabilities. And it provides a systematic argument to the effect that EVM is true: the theory can be vindicated through simple axioms. The result is a formally cogent and philosophically compelling extension of standard decision theory, and original take on the problem of axiological or normative uncertainty. (shrink)

We develop a model of Disappointment in which disappointment and elation arise from comparing the outcome received, not with an expected value as in previous models, but rather with the other individual outcomes of the lottery. This approach may better reflect the way individuals are liable to experience disappointment. The model obtained accounts for classic behavioral deviations from the normative theory, offers a richer structure than previous disappointment models, and leads to a Rank-Dependent Utility formulation in a transparent (...) way. Thus, our disappointment model may provide a clear psychological rationale for the subjective transformation of probabilities. (shrink)

There is the world of ideas and the world of practice; the French are often for sup pressing the one and the English the other; but neither is to be suppressed. -Matthew Arnold The Function of Criticism at the Present Time From its inception, bioethics has confronted the need to reconcile theory and practice. At first the confrontation was purely intellectual, as writers on ethical theory (within phi losophy, theology, or other humanistic disciplines) turned their attention to topics (...) from the world of medical practice. Recently the confrontation has grown more intense. The ap pointment of clinical ethicists in hospitals and other health care settings is an accelerating trend in North America. Concomitantly, those institutions involved in training peo ple in clinical ethics have added organized exposure to the world of practice, in the form of placement requirements, to the normal academic course load. In common with other dis ciplines, bioethics has begun to see clinical training as a con dition of didactic theory and apprenticeship. (shrink)

Business models are developed and managed to create value. While most business model frameworks envision value creation as a uni-directional flow between the focal business and its customers, this article presents a broader view based on a stringent application of stakeholder theory. It provides a stakeholder value creation framework derived from key characteristics of stakeholder theory. This article highlights mutual stakeholder relationships in which stakeholders are both recipients and creators of value in joint (...) class='Hi'>value creation processes. Key findings include that the concept and analysis of value creation through business models need to be expanded with regard to different types of value created with and for different stakeholders and the resulting value portfolio, i.e., the different kinds of value exchanged between the company and its stakeholders. This paper details the application of the stakeholder value creation framework and its theoretical propositions for the case of business models for sustainability. The framework aims to support theoretical and empirical analyses of value creation as well as the management and transformation of business models in line with corporate sustainability ambitions and stakeholder expectations. Overall, this paper proposes a shift in perspective from business models as devices of sheer value creation to business models as devices that organize and facilitate stakeholder relationships and corresponding value exchanges. (shrink)

The Desire-as-Belief thesis (DAB) states that any rational person desires a proposition exactly to the degree that she believes or expects the proposition to be good. Many people take David Lewis to have shown the thesis to be inconsistent with Bayesian decision theory. However, as we show, Lewis's argument was based on an Invariance condition that itself is inconsistent with the (standard formulation of the) version of Bayesian decision theory that he assumed in his arguments against DAB. The (...) aim of this paper is to explore what impact the rejection of Invariance has on the DAB thesis. Without assuming Invariance, we first refute all versions of DAB that entail that there are only two levels of goodness. We next consider two theses according to which rational desires are intimately connected to expectations of (multi-levelled) goodness, and show that these are consistent with Bayesian decision theory as long as we assume that the contents of 'value propositions' are not fixed. We explain why this conclusion is independently plausible, and show how to construct such propositions. (shrink)

Along with the rapid application of new information technologies, the data-driven era is coming, and online consumption platforms are booming. However, massive user data have not been fully developed for design value, and the application of data-driven methods of requirement engineering needs to be further expanded. This study proposes a data-driven expectation prediction framework based on social exchange theory, which analyzes user expectations in the consumption process, and predicts improvement plans to assist designers make better design improvement. According (...) to the classification and concept definition of social exchange resources, consumption exchange elements were divided into seven categories: money, commodity, services, information, value, emotion, and status, and based on these categories, two data-driven methods, namely, word frequency statistics and scale surveys, were combined to analyze user-generated data. Then, a mathematical expectation formula was used to expand user expectation prediction. Moreover, by calculating mathematical expectation, explicit and implicit expectations are distinguished to derive a reliable design improvement plan. To validate its feasibility and advantages, an illustrative example of CoCo Fresh Tea & Juice service system improvement design is further adopted. As an exploratory study, it is hoped that this study provides useful insights into the data mining process of consumption comment. (shrink)

One of the most problematic aspects of the ‘Harvard School’ of liberal international theory is its failure to fulfil its own methodological ideals. Although Harvard School liberals subscribe to a nomothetic model of explanation, in practice they employ their theories as heuristic resources. Given this practice, we should expect them neither to develop candidate causal generalizations nor to be value-neutral: their explanatory insights are underpinned by value-laden choices about which questions to address and what concepts to employ. (...) A key question for liberal theorists, therefore, is how a theory may be simultaneously explanatory and value-oriented. The difficulties inherent in resolving this problem are manifested in Ikenberry's writing: whilst his work on constitutionalism in international politics partially fulfils the requirements of a more satisfactory liberal explanatory theory, his recent attempts to develop prescriptions for US foreign policy reproduce, in a new form, key failings of Harvard School realism. (shrink)

This paper argues in favor of a particular account of decision‐making under normative uncertainty: that, when it is possible to do so, one should maximize expected choice‐worthiness. Though this position has been often suggested in the literature and is often taken to be the ‘default’ view, it has so far received little in the way of positive argument in its favor. After dealing with some preliminaries and giving the basic motivation for taking normative uncertainty into account in our decision‐making, we (...) consider and provide new arguments against two rival accounts that have been offered—the accounts that we call ‘My Favorite Theory’ and ‘My Favorite Option’. We then give a novel argument for comparativism—the view that, under normative uncertainty, one should take into account both probabilities of different theories and magnitudes of choice‐worthiness. Finally, we further argue in favor of maximizing expected choice‐worthiness and consider and respond to five objections. (shrink)

In an influential paper, L. A. Paul argues that one cannot rationally decide whether to have children. In particular, she argues that such a decision is intractable for standard decision theory. Paul's central argument in this paper rests on the claim that becoming a parent is ``epistemically transformative''---prior to becoming a parent, it is impossible to know what being a parent is like. Paul argues that because parenting is epistemically transformative, one cannot estimate the values of the various outcomes (...) of a decision whether to become a parent. In response, we argue that it is possible to estimate the value of epistemically transformative experiences. Therefore, there is no special difficulty involved in deciding whether to undergo epistemically transformative experiences. Insofar as major life decisions do pose a challenge to decision theory, we suggest that this is because they often involve separate, familiar problems. (shrink)

We give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations. Intra and interpersonal welfare comparisons are encoded in a single ‘individual preorder’. The theorems give axioms that uniquely determine a social preorder in terms of this individual preorder. The social preorders described by these theorems have features that may be considered characteristic of Harsanyi-style utilitarianism, such as indifference to ex ante and ex post equality. However, the theorems are (...) also consistent with the rejection of all of the expected utility axioms, completeness, continuity, and independence, at both the individual and social levels. In that sense, expected utility is inessential to Harsanyi-style utilitarianism. In fact, the variable population theorem imposes only a mild constraint on the individual preorder, while the constant population theorem imposes no constraint at all. We then derive further results under the assumption of our basic axioms. First, the individual preorder satisfies the main expected utility axiom of strong independence if and only if the social preorder has a vector-valued expected total utility representation, covering Harsanyi’s utilitarian theorem as a special case. Second, stronger utilitarian-friendly assumptions, like Pareto or strong separability, are essentially equivalent to strong independence. Third, if the individual preorder satisfies a ‘local expected utility’ condition popular in non-expected utility theory, then the social preorder has a ‘local expected total utility’ representation. Fourth, a wide range of non-expected utility theories nevertheless lead to social preorders of outcomes that have been seen as canonically egalitarian, such as rank-dependent social preorders. Although our aggregation theorems are stated under conditions of risk, they are valid in more general frameworks for representing uncertainty or ambiguity. (shrink)

I introduce a mathematical account of expectation based on a qualitative criterion of coherence for qualitative comparisons between gambles (or random quantities). The qualitative comparisons may be interpreted as an agent’s comparative preference judgments over options or more directly as an agent’s comparative expectation judgments over random quantities. The criterion of coherence is reminiscent of de Finetti’s quantitative criterion of coherence for betting, yet it does not impose an Archimedean condition on an agent’s comparative judgments, it does not require the (...) binary relation reflecting an agent’s comparative judgments to be reflexive, complete or even transitive, and it applies to an absolutely arbitrary collection of gambles, free of structural conditions (e.g., closure, measurability, etc.). Moreover, unlike de Finetti’s criterion of coherence, the qualitative criterion respects the principle of weak dominance, a standard of rational decision making that obliges an agent to reject a gamble that is possibly worse and certainly no better than another gamble available for choice. Despite these weak assumptions, I establish a qualitative analogue of de Finetti’s Fundamental Theorem of Prevision, from which it follows that any coherent system of comparative expectations can be extended to a weakly ordered coherent system of comparative expectations over any collection of gambles containing the initial set of gambles of interest. The extended weakly ordered coherent system of comparative expectations satisfies familiar additivity and scale invariance postulates (i.e., independence) when the extended collection forms a linear space. In the course of these developments, I recast de Finetti’s quantitative account of coherent prevision in the qualitative framework adopted in this article. I show that comparative previsions satisfy qualitative analogues of de Finetti’s famous bookmaking theorem and his Fundamental Theorem of Prevision.The results of this article complement those of another article (Pedersen, Strictly coherent preferences, no holds barred, Manuscript, 2013). I explain how those results entail that any coherent weakly ordered system of comparative expectations over a unital linear space can be represented by an expectation function taking values in a (possibly non-Archimedean) totally ordered field extension of the system of real numbers. The ordered field extension consists of formal power series in a single infinitesimal, a natural and economical representation that provides a relief map tracing numerical non-Archimedean features to qualitative non-Archimedean features. (shrink)

Some environmental ethicists and economists argue that attributing infinite value to the environment is a good way to represent an absolute obligation to protect it. Others argue against modelling the value of the environment in this way: the assignment of infinite value leads to immense technical and philosophical difficulties that undermine the environmentalist project. First, there is a problem of discrimination: saving a large region of habitat is better than saving a small region; yet if both outcomes (...) have infinite value, then decision theory prescribes indifference. Second, there is a problem of swamping probabilities: an act with a small but positive probability of saving an endangered species appears to be on par with an act that has a high probability of achieving this outcome, since both have infinite expected value. Our paper shows that a relative concept of infinite value can be meaningfully defined, and provides a good model for securing the priority of the natural environment while avoiding the failures noted by sceptics about infinite value. Our claim is not that the relative infinity utility model gets every detail correct, but rather that it provides a rigorous philosophical framework for thinking about decisions affecting the environment. (shrink)

Collective action problems lie behind many core issues in ethics and social philosophy—for example, whether an individual is required to vote, whether it is wrong to consume products that are produced in morally objectionable ways, and many others. In these cases, it matters greatly what we together do, but yet a single individual’s ‘non-cooperative’ choice seems to make no difference to the outcome and also seems to involve no violation of anyone’s rights. Here it is argued that—contrary to influential arguments (...) by Peter Singer, Alastair Norcross, Shelly Kagan, Derek Parfit, and Allan Gibbard—an appeal to the expected consequences of acts cannot deliver plausible verdicts on many of these cases, because individuals often have a probability of making a difference that is sufficiently small to ensure that ‘non-cooperation’ is the option with the greatest expected value, even when consequentialists themselves agree that ‘cooperation’ is required. In addition, an influential argument by Singer, Norcross, and Kagan is shown to be unsound for the claim that in the collective action situations at issue, the expected effect of one individual’s action equals the average effect of everyone’s similar actions. These results have general implications for normative theory, because they undermine the sort of consequentialist explanation of collective action cases that is initially attractive from many theoretical points of view, consequentialist and otherwise. (shrink)