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Decision Theory and Rationality

Oxford, GB: Oxford University Press (2009)

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  1. On the Interpretation of Decision Theory.Samir Okasha - 2016 - Economics and Philosophy 32 (3):409-433.
    Abstract:This paper explores the contrast between mentalistic and behaviouristic interpretations of decision theory. The former regards credences and utilities as psychologically real, while the latter regards them as mere representations of an agent's preferences. Philosophers typically adopt the former interpretation, economists the latter. It is argued that the mentalistic interpretation is preferable if our aim is to use decision theory for descriptive purposes, but if our aim is normative then the behaviouristic interpretation cannot be dispensed with.
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  • Reason-based choice and context-dependence: An explanatory framework.Franz Dietrich & Christian List - 2016 - Economics and Philosophy 32 (2):175-229.
    We introduce a “reason-based” framework for explaining and predicting individual choices. It captures the idea that a decision-maker focuses on some but not all properties of the options and chooses an option whose motivationally salient properties he/she most prefers. Reason-based explanations allow us to distinguish between two kinds of context-dependent choice: the motivationally salient properties may (i) vary across choice contexts, and (ii) include not only “intrinsic” properties of the options, but also “context-related” properties. Our framework can accommodate boundedly rational (...)
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  • The Locality and Globality of Instrumental Rationality: The normative significance of preference reversals.Brian Kim - 2014 - Synthese 191 (18):4353-4376.
    When we ask a decision maker to express her preferences, it is typically assumed that we are eliciting a pre-existing set of preferences. However, empirical research has suggested that our preferences are often constructed on the fly for the decision problem at hand. This paper explores the ramifications of this empirical research for our understanding of instrumental rationality. First, I argue that these results pose serious challenges for the traditional decision-theoretic view of instrumental rationality, which demands global coherence amongst all (...)
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  • Utility and Language Generation: The Case of Vagueness.Kees van Deemter - 2009 - Journal of Philosophical Logic 38 (6):607 - 632.
    This paper asks why information should ever be expressed vaguely, re-assessing some previously proposed answers to this question and suggesting some new ones. Particular attention is paid to the benefits that vague expressions can have in situations where agreement over the meaning of an expression cannot be taken for granted. A distinction between two different versions of the above-mentioned question is advocated. The first asks why human languages contain vague expressions, the second question asks when and why a speaker should (...)
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  • Mentalism versus Behaviourism in Economics: A Philosophy-of-Science Perspective.Franz Dietrich & Christian List - 2015 - Economics and Philosophy 32 (2):249-281.
    Behaviourism is the view that preferences, beliefs, and other mental states in social-scientific theories are nothing but constructs re-describing people's behaviour. Mentalism is the view that they capture real phenomena, on a par with the unobservables in science, such as electrons and electromagnetic fields. While behaviourism has gone out of fashion in psychology, it remains influential in economics, especially in ‘revealed preference’ theory. We defend mentalism in economics, construed as a positive science, and show that it fits best scientific practice. (...)
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  • Must rational intentions maximize utility?Ralph Wedgwood - 2017 - Philosophical Explorations 20 (sup2):73-92.
    Suppose that it is rational to choose or intend a course of action if and only if the course of action maximizes some sort of expectation of some sort of value. What sort of value should this definition appeal to? According to an influential neo-Humean view, the answer is “Utility”, where utility is defined as a measure of subjective preference. According to a rival neo-Aristotelian view, the answer is “Choiceworthiness”, where choiceworthiness is an irreducibly normative notion of a course of (...)
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  • Slips.Santiago Amaya - 2011 - Noûs 47 (3):559-576.
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  • Aggregating Causal Judgments.Richard Bradley, Franz Dietrich & Christian List - 2014 - Philosophy of Science 81 (4):491-515.
    Decision-making typically requires judgments about causal relations: we need to know the causal effects of our actions and the causal relevance of various environmental factors. We investigate how several individuals' causal judgments can be aggregated into collective causal judgments. First, we consider the aggregation of causal judgments via the aggregation of probabilistic judgments, and identify the limitations of this approach. We then explore the possibility of aggregating causal judgments independently of probabilistic ones. Formally, we introduce the problem of causal-network aggregation. (...)
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  • Suppositional Desires and Rational Choice Under Moral Uncertainty.Nicholas Makins - forthcoming - Ergo: An Open Access Journal of Philosophy.
    This paper presents a unifying diagnosis of a number of important problems facing existing models of rational choice under moral uncertainty and proposes a remedy. I argue that the problems of (i) severely limited scope, (ii) intertheoretic comparisons, and (iii) 'swamping’ all stem from the way in which values are assigned to options in decision rules such as Maximisation of Expected Choiceworthiness. By assigning values to options under a given moral theory by asking something like ‘how much do I desire (...)
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  • Desiderative Lockeanism.Milo Phillips-Brown - forthcoming - Australasian Journal of Philosophy.
    According to the Desiderative Lockean Thesis, there are necessary and sufficient conditions, stated in the terms of decision theory, for when one is truly said to want. What one is truly said to want, it turns out, varies remarkably by context—and to an underappreciated degree. To explain this context-sensitivity, and closure properties of wanting, I advance a Desiderative Lockean view that is distinctive in having two context-sensitive parameters.
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  • Taking Risks on Behalf of Another.Johanna Thoma - 2023 - Philosophy Compass 18 (3):e12898.
    A growing number of decision theorists have, in recent years, defended the view that rationality is permissive under risk: Different rational agents may be more or less risk-averse or risk-inclined. This can result in them making different choices under risk even if they value outcomes in exactly the same way. One pressing question that arises once we grant such permissiveness is what attitude to risk we should implement when choosing on behalf of other people. Are we permitted to implement any (...)
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  • Reasoning Studies. From Single Norms to Individual Differences.Niels Skovgaard-Olsen - 2022 - Dissertation, University of Freiburg
    Habilitation thesis in psychology. The book consists of a collection of reasoning studies. The experimental investigations will take us from people’s reasoning about probabilities, entailments, pragmatic factors, argumentation, and causality to morality. An overarching theme of the book is norm pluralism and individual differences in rationality research.
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  • Frames and Games: Intensionality and Equilibrium Selection.István Aranyosi - forthcoming - Erkenntnis:1-27.
    The paper is an addition to the intensionalist approach to decision theory, with emphasis on game theoretic modelling. Extensionality in games is an a priori requirement that players exhibit the same behavior in all algebraically equivalent games on pain of irrationality. Intensionalism denies that it is always irrational to play differently in differently represented but algebraically equivalent versions of a game. I offer a framework to integrate game non-extensionality with the more familiar idea of linguistic non-extensionality from philosophy of language, (...)
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  • Can redescriptions of outcomes salvage the axioms of decision theory?Jean Baccelli & Philippe Mongin - 2021 - Philosophical Studies 179 (5):1621-1648.
    The basic axioms or formal conditions of decision theory, especially the ordering condition put on preferences and the axioms underlying the expected utility formula, are subject to a number of counter-examples, some of which can be endowed with normative value and thus fall within the ambit of a philosophical reflection on practical rationality. Against such counter-examples, a defensive strategy has been developed which consists in redescribing the outcomes of the available options in such a way that the threatened axioms or (...)
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  • In Defence of Revealed Preference Theory.Johanna Thoma - 2021 - Economics and Philosophy 37 (2):163-187.
    This paper defends revealed preference theory against a pervasive line of criticism, according to which revealed preference methodology relies on appealing to some mental states, in particular an agent’s beliefs, rendering the project incoherent or unmotivated. I argue that all that is established by these arguments is that revealed preference theorists must accept a limited mentalism in their account of the options an agent should be modelled as choosing between. This is consistent both with an essentially behavioural interpretation of preference (...)
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  • Representation Theorems and Radical Interpretation.Edward J. R. Elliott - manuscript
    This paper begins with a puzzle regarding Lewis' theory of radical interpretation. On the one hand, Lewis convincingly argued that the facts about an agent's sensory evidence and choices will always underdetermine the facts about her beliefs and desires. On the other hand, we have several representation theorems—such as those of (Ramsey 1931) and (Savage 1954)—that are widely taken to show that if an agent's choices satisfy certain constraints, then those choices can suffice to determine her beliefs and desires. In (...)
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  • Self-control, Attention, and How to live without Special Motivational Powers.Sebastian Watzl - 2019 - In Michael Brent & Lisa Miracchi Titus (eds.), Mental Action and the Conscious Mind. New York, NY: Routledge. pp. 272-300.
    It has been argued that the explanation of self-control requires positing special motivational powers. Some think that we need will-power as an irreducible mental faculty; others that we need to think of the active self as a dedicated and depletable pool of psychic energy or – in today more respectable terminology – mental resources; finally, there is the idea that self-control requires postulating a deep division between reason and passion – a deliberative and an emotional motivational system. This essay argues (...)
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  • Rational monism and rational pluralism.Jack Spencer - 2020 - Philosophical Studies 178 (6):1769-1800.
    Consequentialists often assume rational monism: the thesis that options are always made rationally permissible by the maximization of the selfsame quantity. This essay argues that consequentialists should reject rational monism and instead accept rational pluralism: the thesis that, on different occasions, options are made rationally permissible by the maximization of different quantities. The essay then develops a systematic form of rational pluralism which, unlike its rivals, is capable of handling both the Newcomb problems that challenge evidential decision theory and the (...)
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  • Measuring Belief and Risk Attitude.Sven Neth - 2019 - Electronic Proceedings in Theoretical Computer Science 297:354–364.
    Ramsey (1926) sketches a proposal for measuring the subjective probabilities of an agent by their observable preferences, assuming that the agent is an expected utility maximizer. I show how to extend the spirit of Ramsey's method to a strictly wider class of agents: risk-weighted expected utility maximizers (Buchak 2013). In particular, I show how we can measure the risk attitudes of an agent by their observable preferences, assuming that the agent is a risk-weighted expected utility maximizer. Further, we can leverage (...)
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  • Decision Theory.Johanna Thoma - 2019 - In Richard Pettigrew & Jonathan Weisberg (eds.), The Open Handbook of Formal Epistemology. PhilPapers Foundation. pp. 57-106.
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  • Norm Conflicts and Conditionals.Niels Skovgaard-Olsen, David Kellen, Ulrike Hahn & Karl Christoph Klauer - 2019 - Psychological Review 126 (5):611-633.
    Suppose that two competing norms, N1 and N2, can be identified such that a given person’s response can be interpreted as correct according to N1 but incorrect according to N2. Which of these two norms, if any, should one use to interpret such a response? In this paper we seek to address this fundamental problem by studying individual variation in the interpretation of conditionals by establishing individual profiles of the participants based on their case judgments and reflective attitudes. To investigate (...)
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  • What Is Risk Aversion?H. Orii Stefansson & Richard Bradley - 2019 - British Journal for the Philosophy of Science 70 (1):77-102.
    According to the orthodox treatment of risk preferences in decision theory, they are to be explained in terms of the agent's desires about concrete outcomes. The orthodoxy has been criticised both for conflating two types of attitudes and for committing agents to attitudes that do not seem rationally required. To avoid these problems, it has been suggested that an agent's attitudes to risk should be captured by a risk function that is independent of her utility and probability functions. The main (...)
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  • Emotion, utility maximization, and ecological rationality.Yakir Levin & Itzhak Aharon - 2014 - Mind and Society 13 (2):227-245.
    This paper examines the adequacy of an evolutionary-oriented notion of rationality—ecological rationality—that has recently been proposed in economics. Ecological rationality is concerned with what it is rational to do, and in this sense is a version of what philosophers call ‘practical rationality’. Indeed, the question of the adequacy of ecological rationality as it is understood in the paper, is the question of whether ecological rationality is a genuine notion of practical rationality. The paper first explicates and motivates the notion of (...)
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  • Animal vs. human rationality-cum-conceptuality: a philosophical perspective on developmental psychology.Yakir Levin & Itzhak Aharon - 2022 - Mind and Society 21 (1):63-88.
    In this paper, we first extract from Susan Carey’s seminal account of the origin of concepts a notion of rationality, which is applicable to human infants and non-human animals; significantly different from the notions of rationality prevalent in behavioral ecology and yet, like these notions, amenable to empirical testing; conceptually more fundamental than the latter notions. Relatedly, this notion underlies a proto-conceptuality ascribable, by a key component of Carey’s account, to human infants and non-human animals. Based on a Kantian-inspired analysis (...)
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  • Trzeci rodzaj normatywności – wymóg reagowania na racje.Tomasz Żuradzki - 2014 - Filozofia Nauki 88 (4):35-51.
    Celem artykułu jest krytyka przyjętego przez niektórych filozofów podziału na normatywność w podstawowym sensie oraz normatywność wymogów wąsko rozumianej racjonalności. Pokazuję, że podział taki nie jest wyczerpujący, ponieważ pomija ważny typ wymogów normatywnych, a mianowicie reagowanie na racje. Z jednej strony tego rodzaju wymogi nie przypominają wymogów normatywnych w podstawowym sensie, a z drugiej — istotnie różnią się od racjonalności rozumianej jako spójność między nastawieniami. Dochodzę do wniosku, że reagowanie na racje należy uznać za trzeci typ wymogów normatywnych.
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  • Non-Measurability, Imprecise Credences, and Imprecise Chances.Yoaav Isaacs, Alan Hájek & John Hawthorne - 2021 - Mind 131 (523):892-916.
    – We offer a new motivation for imprecise probabilities. We argue that there are propositions to which precise probability cannot be assigned, but to which imprecise probability can be assigned. In such cases the alternative to imprecise probability is not precise probability, but no probability at all. And an imprecise probability is substantially better than no probability at all. Our argument is based on the mathematical phenomenon of non-measurable sets. Non-measurable propositions cannot receive precise probabilities, but there is a natural (...)
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  • Exploring the similarities and differences between medical assessments of competence and criminal responsibility.Gerben Meynen - 2009 - Medicine, Health Care and Philosophy 12 (4):443-451.
    The medical assessments of criminal responsibility and competence to consent to treatment are performed, developed and debated in distinct domains. In this paper I try to connect these domains by exploring the similarities and differences between both assessments. In my view, in both assessments a decision-making process is evaluated in relation to the possible influence of a mental disorder on this process. I will argue that, in spite of the relevance of the differences, both practices could benefit from the recognition (...)
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  • The Relationship of Science Knowledge, Attitude and Decision Making on Socio-scientific Issues: The Case Study of Students’ Debates on a Nuclear Power Plant in Korea.Hunkoog Jho, Hye-Gyoung Yoon & Mijung Kim - 2014 - Science & Education 23 (5):1131-1151.
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  • Preferences, reasoning errors, and resource egalitarianism.Alexandru Volacu - 2018 - Philosophical Studies 175 (8):1851-1870.
    In this paper I aim to examine some problematic implications of the fact that individuals are prone to making systematic reasoning errors, for resource egalitarianism. I begin by disentangling the concepts of preferences, choices and ambitions, which are sometimes used interchangeably by egalitarians. Subsequently, I claim that the most plausible interpretation of resource egalitarianism takes preferences, not choices, as the site of responsibility. This distinction is salient, since preference-sensitive resource egalitarianism is faced with an important objection when applied to situations (...)
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  • Pitfalls for realistic decision theory: an illustration from sequential choice.José Luis Bermúdez - 2010 - Synthese 176 (1):23-40.
    Decision theory is a theory of rationality, but the concept of rationality has several different dimensions. Making decision theory more realistic with respect to one dimension may well have the result of making it less realistic in another dimension. This paper illustrates this tension in the context of sequential choice. Trying to make decision theory more realistic by accommodating resoluteness and commitment brings the normative assessment dimension of rationality into conflict with the action-guiding dimension. In the case of resolute choice (...)
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  • A Blind Spot in Research on Foreign Language Effects in Judgment and Decision-Making.Andrea Polonioli - 2018 - Frontiers in Psychology 9:304574.
    One of the most fascinating topics of current investigation in the literature on judgment and decision-making concerns the exploration of foreign language effects (henceforth, FLE). Specifically, recent research suggests that presenting information in a foreign language helps reasoners make better choices. However, this piece aims at making scholars aware of a blind spot in this stream of research. In particular, research on FLE has imported only one view of judgment and decision-making, in which the heuristics that people use are seen (...)
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