In traditional decision theory, utility is regarded as a mathematical representation of preferences to be inferred from agents hedonic experiences. Some go as far as to contend that utility is literally computed by specific neural areas and urge economists to complement or substitute their notion of utility with some neuro-psychological construct. In this paper, I distinguish three notions of utility that are frequently mentioned in debates about decision theory and examine some critical issues regarding their definition and measurability. Moreover, I (...) provide various empirical and conceptual reasons to doubt that economists should base decision theoretic analyses on some neuro-psychological notion of utility. (shrink)

Philosophers of science have developed several accounts of how consideration of scientific models can prompt learning about real-world targets. In recent years, various authors advocated the thesis that consideration of so-called minimal models can prompt learning about such targets. In this paper, I draw on the philosophical literature on scientific modelling and on widely cited illustrations from economics and biology to argue that this thesis fails to withstand scrutiny. More specifically, I criticize leading proponents of such thesis for failing to (...) explicate in virtue of what properties or features minimal models supposedly prompt learning and for substantially overstating the epistemic import of minimal models. I then examine and refute several arguments one may put forward to demonstrate that consideration of minimal models can prompt learning about real-world targets. In doing so, I illustrate the implications of my critique for the wider debate on the epistemology of scientific modelling. (shrink)

In recent years, several authors have called to ground descriptive and normative decision theory on neuro-psychological measures of utility. In this paper, I combine insights from the best available neuro-psychological findings, leading philosophical conceptions of welfare and contemporary decision theory to rebut these prominent calls. I argue for two claims of general interest to philosophers, choice modellers and policy makers. First, severe conceptual, epistemic and evidential problems plague ongoing attempts to develop accurate and reliable neuro-psychological measures of utility. And second, (...) even if these problems are solved, neuro-psychological measures of utility lack the potential to inform welfare analyses and policy evaluations. (shrink)

The critics of rational choice theory (RCT) frequently build on the contrast between so-called thick and thin applications of RCT to argue that thin RCT lacks the potential to explain the choices of real-world agents. In this paper, I draw on often-cited RCT applications in several decision sciences to demonstrate that despite this prominent critique there are at least two different senses in which thin RCT can explain real-world agents’ choices. I then defend this thesis against the most influential objections (...) put forward by the critics of RCT. In doing so, I explicate the implications of my thesis for the ongoing philosophical debate concerning the explanatory potential of RCT and the comparative merits of widely endorsed accounts of explanation. (shrink)

Over the last decade, neuroeconomic research has attracted increasing attention by economic modellers and methodologists. In this paper, I examine five issues about neuroeconomic modelling and methodology that have recently been subject to considerable controversy. For each issue, I explicate and appraise prominent neuroeconomists' findings, focusing on those that are claimed to directly inform economic theorizing. Moreover, I assess often-made assertions concerning how neuroeconomic research putatively advances the economic modelling of choice. In doing so, I combine review and critical arguments (...) to provide a methodological evaluation of neuroeconomists' contributions. (shrink)

Over the last few decades, there have been intense debates concerning the effects of markets on the morality of individuals’ behaviour. On the one hand, several authors argue that markets’ ongoing expansion tends to undermine individuals’ intentions for mutual benefit and virtuous character traits and actions. On the other hand, leading economists and philosophers characterize markets as a domain of intentional cooperation for mutual benefit that promotes many of the character traits and actions that traditional virtue ethics accounts classify as (...) virtuous. In this paper, I join this debate and argue for three claims of general interest to philosophers, economists and policy makers. First, market transactions do not reliably promote individuals’ intentions for mutual benefit, and often select against such intentions. Second, the set of so-called market virtues lacks a substantial overlap with the set of character traits that traditional virtue ethics accounts classify as virtuous. And third, many seemingly virtuous actions observed in market contexts are merely actions in accordance with virtue rather than genuine actions from virtue. These three claims do not license opposition to markets, but challenge the main empirical and theoretical presuppositions of leading virtue ethics defences of markets. (shrink)

Decision theorists have attempted to accommodate several violations of decision theory’s axiomatic requirements by modifying how agents’ choice options are individuated and formally represented. In recent years, prominent authors have worried that these modifications threaten to trivialize decision theory, make the theory unfalsifiable, impose overdemanding requirements on decision theorists, and hamper decision theory’s internal coherence. In this paper, I draw on leading descriptive and normative works in contemporary decision theory to address these prominent concerns. In doing so, I articulate and (...) assess several different criteria for individuating and formally representing agents’ choice options. (shrink)

Several authors have recently advocated a so-called new case for paternalism, according to which empirical findings from distinct decision sciences provide compelling reasons in favour of paternalistic interference. In their view, the available behavioural and neuro-psychological findings enable paternalists to address traditional anti-paternalistic objections and reliably enhance the well-being of their target agents. In this paper, I combine insights from decision-making research, moral philosophy and evidence-based policy evaluation to assess the merits of this case. In particular, I articulate and defend (...) three complementary arguments that, I claim, challenge even the best available calls for such case. In doing so, I identify the main justificatory challenges faced by the new paternalists and explicate the implications of these challenges for the ongoing philosophical debate about the justifiability of paternalistic interference. (shrink)

In recent years, several authors have debated about the justifiability of so-called scientific imperialism. To date, however, widespread disagreements remain regarding both the identification and the normative evaluation of scientific imperialism. In this paper, I aim to remedy this situation by making some conceptual distinctions concerning scientific imperialism and by providing a detailed assessment of the most prominent objections to it. I shall argue that these objections provide a valuable basis for opposing some instances of scientific imperialism, but do not (...) yield cogent reasons to think that scientific imperialism in general is objectionable or unjustified. I then highlight three wide-ranging implications of this result for the ongoing philosophical debate about the justifiability of scientific imperialism. (shrink)

In the recent well-being literature, various theory-free accounts of well-being have been proposed to ground informative evaluations of policies’ welfare implications without relying on any specifi...

This article examines the issue of whether consideration of so-called minimal models can prompt learning about real-world targets. Using a widely cited example as a test case, it argues against the increasingly popular view that consideration of minimal models can prompt learning about such targets. The article criticizes influential defenses of this view for failing to explicate by virtue of what properties or features minimal models supposedly prompt learning. It then argues that consideration of minimal models cannot prompt learning about (...) real-world targets unless one supplements these models with additional information or presuppositions concerning such targets. (shrink)

In the recent literature at the interface between economics, biology and neuroscience, several authors argue that by adopting an interdisciplinary approach to the analysis of decision making, economists will be able to construct predictively and explanatorily superior models. However, most economists remain quite reluctant to import biological or neural insights into their account of choice behaviour. In this paper, I reconstruct and critique one of the main arguments by means of which economists attempt to vindicate their conservative position. Furthermore, I (...) develop an alternative defense of the thesis that economists justifiably rely on a methodologically distinctive approach to the modelling of choice behaviour. (shrink)

Slippery slope arguments (SSAs) are used in a wide range of philosophical debates, but are often dismissed as empirically ill-founded and logically fallacious. In particular, leading authors put forward a meta-SSA which points to instances of empirically ill-founded and logically fallacious SSAs and to the alleged existence of a slippery slope leading to such SSAs to demonstrate that people should avoid using SSAs altogether. In this paper, I examine these prominent calls against using SSAs and argue that such calls do (...) not withstand scrutiny. I then identify several types of mechanisms leading to slippery slopes in real-life contexts to demonstrate that both the strength of SSAs and the justifiability of using SSAs are best assessed on a case-by-case basis. This result does not exempt the proponents of SSAs from the task of vindicating their use of SSAs. However, if correct, it undermines the often-made claim that people should avoid using SSAs altogether. (shrink)

In recent years, several authors have reconstructed the relationship between 20th-century economic theory and neuro-psychological research in terms of a three-stage narrative of initial unity, increasing separation, and ongoing reunification. In this article, I draw on major developments in economic theory and neuro-psychological research to provide a descriptive and normative critique of this reconstruction. Moreover, I put forward a reconstruction of the relationship between economics and neuro-psychology that, I claim, better fits both the available empirical evidence and the methodological foundations (...) of these disciplines. In doing so, I argue that recent calls to develop a unified interdisciplinary framework for modeling choice are premised on disputable presuppositions concerning both the domain of economic theory and the relationship between this theory’s axiomatic foundations and empirical findings about the neuro-psychological substrates of choice. (shrink)

The recent advancements at the interface between economics and neuroscience have encouraged neuroeconomists to raise several criticisms concerning the economic theory of choice. At present, however, there is little agreement with regard to the theoretical presuppositions and the explanatory aims of neuroeconomics. In this paper, I assess the scope and the significance of neuroeconomists' divergences, casting doubt on their attempts to provide a unified theoretical framework for analysing human choice behaviour. Moreover, I highlight some respects in which methodologically informed considerations (...) can promote the consolidation of the neuroeconomic enterprise. (shrink)

Proponents of neuroeconomics often argue that better knowledge of the human neural architecture enables economists to improve standard models of choice. In their view, these improvements provide compelling reasons to use neural findings in constructing and evaluating economic models. In a recent article, I criticized this view by pointing to the trade-offs between the modeling desiderata valued by neuroeconomists and other economists, respectively. The present article complements my earlier critique by focusing on three modeling desiderata that figure prominently in economic (...) and neuroeconomic modeling. For each desideratum, I examine findings that neuroeconomists deem to be especially relevant for economists and argue that neuroeconomists have failed to substantiate their calls to use these findings in constructing and evaluating economic models. In doing so, I identify methodological and evidential constraints that will continue to hinder neuroeconomists’ attempts to improve such models. Moreover, I draw on the literature on scientific modeling to advance the ongoing philosophical discussion regarding the prospects of interdisciplinary models of choice. (shrink)

In recent years, several authors advocated neuroscience imperialism, an instance of scientific imperialism whereby neuroscience methods and findings are systematically applied to model and explain phenomena investigated by other disciplines. Calls for neuroscience imperialism target a wide range of disciplines, including psychology, economics, and philosophy. To date, however, neuroscience imperialism has not received detailed attention by philosophers, and the debate concerning its identification and normative assessment is relatively underdeveloped. In this paper, I aim to remedy this situation by making some (...) conceptual distinctions about neuroscience imperialism and by providing a normative assessment of prominent calls in its favour. I shall articulate and defend two interrelated claims that, I argue, undermine prominent calls for neuroscience imperialism. First, the proponents of neuroscience imperialism significantly overstate the evidential and explanatory relevance of neuroscience methods and findings for the disciplines they target. And second, prominent calls for neuroscience imperialism point to an untenable reductionist position, which rests on unsupported empirical and normative presuppositions. To substantiate these two claims, I shall draw on two sets of influential calls for neuroscience imperialism, which respectively target the economic modelling of choice and entrenched philosophical conceptions of free agency. (shrink)

In a recent article in this Journal, Fumagalli argues that economists are provisionally justified in resisting prominent calls to integrate neural variables into economic models of choice. In other articles, various authors engage with Fumagalli’s argument and try to substantiate three often-made claims concerning neuroeconomic modelling. First, the benefits derivable from neurally informing some economic models of choice do not involve significant tractability costs. Second, neuroeconomic modelling is best understood within Marr’s three-level of analysis framework for information-processing systems. And third, (...) neural findings enable choice modellers to confirm the causal relevance of variables posited by competing economic models, identify causally relevant variables overlooked by existing models, and explain observed behavioural variability better than standard economic models. In this paper, I critically examine these three claims and respond to the related criticisms of Fumagalli’s argument. Moreover, I qualify and extend Fumagalli’s account of how trade-offs between distinct modelling desiderata hamper neuroeconomists’ attempts to improve economic models of choice. I then draw on influential neuroeconomic studies to argue that even the putatively best available neural findings fail to substantiate current calls for a neural enrichment of economic models. (shrink)

Leibniz’s question “why is there something rather than nothing?”, also known as the Primordial Existential Question, has often been the focus of intense philosophical controversy. While some authors take it to pose a profound metaphysical puzzle, others denounce the alleged lack of meaning or the inconceivability of the idea of nothingness. In a series of articles, Adolf Grünbaum develops an empirically informed critique with the aim to demonstrate that the Primordial Existential Question poses a “non-issue” which does not require explanation. (...) Grünbaum’s critique prompted heated debates in the recent literature. In this paper, I examine each step of Grünbaum’s reasoning and argue that it fails to show that the Primordial Existential Question is ill-founded. Moreover, I identify and rebut several strategies that one may employ to amend Grünbaum’s critique. In doing so, I address various issues related to the Primordial Existential Question, including the alleged need for its proponents to rely on contentious metaphysical presuppositions and the purported availability of empirical evidence which answers or dissolves such a question. (shrink)

Choice modellers are frequently criticized for failing to provide accurate representations of the neuro-psychological substrates of decisions. Several authors maintain that recent neuro-psychological findings enable choice modellers to overcome this alleged shortcoming. Some advocate a realistic interpretation of neuro-psychological models of choice, according to which these models posit sub-personal entities with specific neuro-psychological counterparts and characterize those entities accurately. In this article, I articulate and defend three complementary arguments to demonstrate that, contrary to emerging consensus, even the best available neuro-psychological (...) models of choice cannot be justifiably given this realistic interpretation. Moreover, I explicate what challenges will continue to hamper neuro-psychological modellers’ attempts to substantiate a realistic interpretation of their models. In doing so, I draw on the literature on scientific modelling to advance the ongoing philosophical discussion concerning the ontological status of the sub-personal entities posited in distinct decision sciences, the resemblance relations that supposedly connect choice models and the neuro-psychological substrates of decisions, and what conditions these models must satisfy to be regarded as realistic representations of their target systems. (shrink)

This paper provides a philosophical assessment of leading theory-based, evidence-based and coherentist approaches to the definition and the measurement of well-being. It then builds on this assessment to articulate a reformed division of labor for the science of well-being and argues that this reformed division of labor can improve on the proffered approaches by combining the most plausible tenets of theory-based approaches with the most plausible tenets of coherentist approaches. This result does not per se exclude the possibility that theory-based (...) and coherentist approaches may be independently improved or amended in the years to come. Still, together with the challenges that affect these approaches, it strengthens the case for combining the most plausible tenets of those approaches. (shrink)

In the recent literature across philosophy, medicine and public health policy, many influential arguments have been put forward to support the use of randomization procedures to allocate scarce life-saving resources. In this paper, I provide a systematic categorization and a critical evaluation of these arguments. I shall argue that those arguments justify using randomization procedures to allocate scarce life-saving resources in fewer cases than their proponents maintain and that the relevant decision makers should typically allocate scarce life-saving resources directly to (...) the individuals with the strongest claims to these resources rather than use randomization procedures to allocate such resources. (shrink)

The critics of rational choice theory frequently claim that RCT is self-defeating in the sense that agents who abide by RCT’s prescriptions are less successful in satisfying their preferences than they would be if they abided by some normative theory of choice other than RCT. In this paper, I combine insights from philosophy of action, philosophy of mind and the normative foundations of RCT to rebut this often-made criticism. I then explicate the implications of my thesis for the wider philosophical (...) debate concerning the normativity of RCT for both ideal agents who can form and revise their intentions instantly without cognitive costs and real-life agents who have limited control over the formation and the dynamics of their own intentions. (shrink)

In recent years, leading public reason liberals have argued that publicly justifying coercive laws and policies requires that citizens offer both adequate secular justificatory reasons and adequate secular motivating reasons for these laws and policies. In this paper, I provide a critical assessment of these two requirements and argue for two main claims concerning such requirements. First, only some qualified versions of the requirement that citizens offer adequate secular justificatory reasons for coercive laws and policies may be justifiably regarded as (...) plausible liberal principles of public justification. And second, the requirement that citizens offer adequate secular motivating reasons for coercive laws and policies is untenable on multiple grounds. Public reason liberals should focus on assessing the justificatory reasons offered for and against coercive laws and policies rather than requiring citizens to offer adequate secular motivating reasons for such laws and policies. (shrink)

This PhD thesis focuses on the philosophical foundations of Neuroeconomics, an innovative research program which combines findings and modelling tools from economics, psychology and neuroscience to account for human choice behaviour. The proponents of Neuroeconomics often manifest the ambition to foster radical modifications in the accounts of choice behaviour developed by its parent disciplines. This enquiry provides a philosophically informed appraisal of the potential for success and the relevance of neuroeconomic research for economics. My central claim is that neuroeconomists can (...) help other economists to build more predictive and explanatory models, yet are unlikely to foster revolutionary modifications in the economic theory of choice. The contents are organized as follows. In chapters 1-2, I present neuroeconomists’ investigative tools, distinguish the most influential approaches to neuroeconomic research and reconstruct the case in favour of a neural enrichment of economic theory. In chapters 3-7, I combine insights from neuro-psychology, economic methodology and philosophy of science to develop a systematic critique of Neuroeconomics. In particular, I articulate four lines of argument to demonstrate that economists are provisionally justified in retaining a methodologically distinctive approach to the modelling of decision making. My first argument points to several evidential and epistemological concerns which complicate the interpretation of neural data and cast doubt on the inferences neuroeconomists often make in their studies. My second argument aims to show that the trade-offs between the modelling desiderata that neuroeconomists and other economists respectively value severely constrain the incorporation of neural insights into economic models. My third argument questions neuroeconomists’ attempts to develop a unified theory of choice behaviour by identifying some central issues on which they hold contrasting positions. My fourth argument differentiates various senses of the term ‘revolution’ and illustrates that neuroeconomists are unlikely to provide revolutionary contributions to economic theory in any of these senses. (shrink)