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)

People with the kind of preferences that give rise to the St. Petersburg paradox are problematic---but not because there is anything wrong with infinite utilities. Rather, such people cannot assign the St. Petersburg gamble any value that any kind of outcome could possibly have. Their preferences also violate an infinitary generalization of Savage's Sure Thing Principle, which we call the *Countable Sure Thing Principle*, as well as an infinitary generalization of von Neumann and Morgenstern's Independence axiom, which we call *Countable (...) Independence*. In violating these principles, they display foibles like those of people who deviate from standard expected utility theory in more mundane cases: they choose dominated strategies, pay to avoid information, and reject expert advice. We precisely characterize the preference relations that satisfy Countable Independence in several equivalent ways: a structural constraint on preferences, a representation theorem, and the principle we began with, that every prospect has a value that some outcome could have. (shrink)

We prove a representation theorem for preference relations over countably infinite lotteries that satisfy a generalized form of the Independence axiom, without assuming Continuity. The representing space consists of lexicographically ordered transfinite sequences of bounded real numbers. This result is generalized to preference orders on abstract superconvex spaces.

In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...) principle, I then argue that for any agent, S, faced with any decision under risk, S should rank his or her decision options (in terms of how choiceworthy they are) according to their comparative expected comparative utility (CECU) and should choose whichever option carries the greatest CECU. For any option, a, a’s CECU is the difference between its ECU and that of whichever alternative to a carries the greatest ECU, where a’s ECU is a probability‐weighted sum of a’s CUs across the various possible states of the world. I lastly demonstrate that in some ordinary decisions under risk, ECU theory delivers different verdicts from those of standard decision theory. (shrink)

This paper aims to address the question of how one ought to choose when one is uncertain about what outcomes will result from one’s choices, but when one can nevertheless assign probabilities to the different possible outcomes. These choices are commonly referred to as choices (or decisions) under risk. I assume in this paper that one ought to make instrumentally rational choices—more precisely, one ought to adopt suitable means to one’s morally permissible ends. Expected utility (EU) theory is generally accepted (...) as a normative theory of rational choice under risk, or, more specifically, as a theory of instrumental rationality. According to EU theory, when faced with a decision under risk, one ought to rank one’s options (from least to most choiceworthy) according to their EU and one ought to choose whichever option carries the greatest EU (or one of them in the event that several alternatives are tied). The EU of an option is a probability-weighted sum of each of its possible utilities. In this paper, I argue that EU theory is not the correct theory of instrumental rationality. In its place, I argue for a new theory of instrumental rationality, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this principle, I then argue, roughly speaking, that for any agent, S, faced with any decision under risk, S ought to rank her options (in terms of how choiceworthy they are) according to their ECU and S ought to choose whichever option carries the greatest ECU (or one of them in the event that several alternatives are tied). For any option, a, a’s ECU is a probability‐weighted sum of a’s comparative utilities across the various possible states of the world. In this paper, I show that in some commonplace decisions under risk, ECU theory delivers different verdicts from those of EU theory. (shrink)

In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...) principle, I then argue that for any agent, S, faced with any decision under risk, S should rank his or her decision options (in terms of how choiceworthy they are) according to their comparative expected comparative utility (CECU) and should choose whichever option carries the greatest CECU. For any option, a, a's CECU is the difference between its ECU and that of whichever alternative to a carries the greatest ECU, where a's ECU is a probability-weighted sum of a's CUs across the various possible states of the world. I lastly demonstrate that in some ordinary decisions under risk, ECU theory delivers different verdicts from those of standard decision theory. (shrink)

This paper aims to provide hyperintensional foundations for mathematical platonism. I examine Hale and Wright's (2009) objections to the merits and need, in the defense of mathematical platonism and its epistemology, of the thesis of Necessitism. In response to Hale and Wright's objections to the role of epistemic and metaphysical modalities in providing justification for both the truth of abstraction principles and the success of mathematical predicate reference, I examine the Necessitist commitments of the abundant conception of properties endorsed by (...) Hale and Wright and examined in Hale (2013), and demonstrate how a two-dimensional approach to the epistemology of mathematics is consistent with Hale and Wright's notion of there being non-evidential epistemic entitlement rationally to trust that abstraction principles are true. A choice point that I flag is that between availing of intensional or hyperintensional semantics. The hyperintensional semantic approach that I advance is a topic-sensitive epistemic two-dimensional truthmaker semantics. I countenance a hyperintensional semantics for novel epistemic abstractionist modalities. I suggest that observational type theory can be applied to first-order abstraction principles in order to make abstraction principles recursively enumerable. Epistemic and metaphysical states and possibilities may thus be shown to play a constitutive role in vindicating the reality of mathematical objects and truth, and in providing a conceivability-based route to the truth of abstraction principles as well as other axioms and propositions in mathematics. (shrink)

This book concerns the foundations of epistemic modality and hyperintensionality and their applications to the philosophy of mathematics. I examine the nature of epistemic modality, when the modal operator is interpreted as concerning both apriority and conceivability, as well as states of knowledge and belief. The book demonstrates how epistemic modality and hyperintensionality relate to the computational theory of mind; metaphysical modality and hyperintensionality; the types of mathematical modality and hyperintensionality; to the epistemic status of large cardinal axioms, undecidable propositions, (...) and abstraction principles in the philosophy of mathematics; to the modal and hyperintensional profiles of the logic of rational intuition; and to the types of intention, when the latter is interpreted as a hyperintensional mental state. Chapter \textbf{2} argues for a novel type of expressivism based on the duality between the categories of coalgebras and algebras, and argues that the duality permits of the reconciliation between modal cognitivism and modal expressivism. I also develop a novel topic-sensitive truthmaker semantics for dynamic epistemic logic, and develop a novel dynamic two-dimensional semantics. Chapter \textbf{3} provides an abstraction principle for epistemic (hyper-)intensions. Chapter \textbf{4} advances a topic-sensitive two-dimensional truthmaker semantics, and provides three novel interpretations of the framework along with the epistemic and metasemantic. Chapter \textbf{5} applies the fixed points of the modal $\mu$-calculus in order to account for the iteration of epistemic states in a single agent, by contrast to availing of modal axiom 4 (i.e. the KK principle). The fixed point operators in the modal $\mu$-calculus are rendered hyperintensional, which yields the first hyperintensional construal of the modal $\mu$-calculus in the literature and the first application of the calculus to the iteration of epistemic states in a single agent instead of the common knowledge of a group of agents. Chapter \textbf{6} advances a solution to the Julius Caesar problem based on Fine's `criterial' identity conditions which incorporate conditions on essentiality and grounding. Chapter \textbf{7} provides a ground-theoretic regimentation of the proposals in the metaphysics of consciousness and examines its bearing on the two-dimensional conceivability argument against physicalism. The topic-sensitive epistemic two-dimensional truthmaker semantics developed in chapters \textbf{2} and \textbf{4} are availed of in order for epistemic states to be a guide to metaphysical states in the hyperintensional setting. -/- Chapters \textbf{8-12} provide cases demonstrating how the two-dimensional hyperintensions of hyperintensional, i.e. topic-sensitive epistemic two-dimensional truthmaker, semantics, solve the access problem in the epistemology of mathematics. Chapter \textbf{8} examines the interaction between my hyperintensional semantics and the axioms of epistemic set theory, large cardinal axioms, the Epistemic Church-Turing Thesis, the modal axioms governing the modal profile of $\Omega$-logic, Orey sentences such as the Generalized Continuum Hypothesis, and absolute decidability. These results yield inter alia the first hyperintensional Epistemic Church-Turing Thesis and hyperintensional epistemic set theories in the literature. Chapter \textbf{9} examines the modal and hyperintensional commitments of abstractionism, in particular necessitism, and epistemic hyperintensionality, epistemic utility theory, and the epistemology of abstraction. I countenance a hyperintensional semantics for novel epistemic abstractionist modalities. I suggest, too, that observational type theory can be applied to first-order abstraction principles in order to make first-order abstraction principles recursively enumerable, i.e. Turing machine computable, and that the truth of the first-order abstraction principle for hyperintensions is grounded in its being possibly recursively enumerable and the machine being physically implementable. Chapter \textbf{10} examines the philosophical significance of hyperintensional $\Omega$-logic in set theory and discusses the hyperintensionality of metamathematics. Chapter \textbf{11} provides a modal logic for rational intuition and provides a hyperintensional semantics. Chapter \textbf{12} avails of modal coalgebras to interpret the defining properties of indefinite extensibility, and avails of hyperintensional epistemic two-dimensional semantics in order to account for the interaction between the interpretational and objective modalities and truthmakers thereof. This yields the first hyperintensional category theory in the literature. I invent a new mathematical trick in which first order structures are treated as categories, and Vopenka's principle can be satisfied because of the elementary embeddings between the categories and generate Vopenka cardinals while bypassing the category of Set in category theory. Chapter \textbf{13} examines modal responses to the alethic paradoxes. Chapter \textbf{14} examines, finally, the modal and hyperintensional semantics for the different types of intention and the relation of the latter to evidential decision theory. (shrink)

This book concerns the foundations of epistemic modality and hyperintensionality and their applications to the philosophy of mathematics. I examine the nature of epistemic modality, when the modal operator is interpreted as concerning both apriority and conceivability, as well as states of knowledge and belief. The book demonstrates how epistemic modality and hyperintensionality relate to the computational theory of mind; metaphysical modality and hyperintensionality; the types of mathematical modality and hyperintensionality; to the epistemic status of large cardinal axioms, undecidable propositions, (...) and abstraction principles in the philosophy of mathematics; to the modal and hyperintensional profiles of the logic of rational intuition; and to the types of intention, when the latter is interpreted as a hyperintensional mental state. Chapter \textbf{2} argues for a novel type of expressivism based on the duality between the categories of coalgebras and algebras, and argues that the duality permits of the reconciliation between modal cognitivism and modal expressivism. I also develop a novel topic-sensitive truthmaker semantics for dynamic epistemic logic, and develop a novel dynamic two-dimensional semantics. Chapter \textbf{3} provides an abstraction principle for epistemic (hyper-)intensions. Chapter \textbf{4} advances a topic-sensitive two-dimensional truthmaker semantics, and provides three novel interpretations of the framework along with the epistemic and metasemantic. Chapter \textbf{5} applies the fixed points of the modal $\mu$-calculus in order to account for the iteration of epistemic states in a single agent, by contrast to availing of modal axiom 4 (i.e. the KK principle). The fixed point operators in the modal $\mu$-calculus are rendered hyperintensional, which yields the first hyperintensional construal of the modal $\mu$-calculus in the literature and the first application of the calculus to the iteration of epistemic states in a single agent instead of the common knowledge of a group of agents. Chapter \textbf{6} advances a solution to the Julius Caesar problem based on Fine's `criterial' identity conditions which incorporate conditions on essentiality and grounding. Chapter \textbf{7} provides a ground-theoretic regimentation of the proposals in the metaphysics of consciousness and examines its bearing on the two-dimensional conceivability argument against physicalism. The topic-sensitive epistemic two-dimensional truthmaker semantics developed in chapters \textbf{2} and \textbf{4} are availed of in order for epistemic states to be a guide to metaphysical states in the hyperintensional setting. -/- Chapters \textbf{8-12} provide cases demonstrating how the two-dimensional hyperintensions of hyperintensional, i.e. topic-sensitive epistemic two-dimensional truthmaker, semantics, solve the access problem in the epistemology of mathematics. Chapter \textbf{8} examines the interaction between my hyperintensional semantics and the axioms of epistemic set theory, large cardinal axioms, the Epistemic Church-Turing Thesis, the modal axioms governing the modal profile of $\Omega$-logic, Orey sentences such as the Generalized Continuum Hypothesis, and absolute decidability. These results yield inter alia the first hyperintensional Epistemic Church-Turing Thesis and hyperintensional epistemic set theories in the literature. Chapter \textbf{9} examines the modal and hyperintensional commitments of abstractionism, in particular necessitism, and epistemic hyperintensionality, epistemic utility theory, and the epistemology of abstraction. I countenance a hyperintensional semantics for novel epistemic abstractionist modalities. I suggest, too, that observational type theory can be applied to first-order abstraction principles in order to make first-order abstraction principles recursively enumerable, i.e. Turing machine computable, and that the truth of the first-order abstraction principle for hyperintensions is grounded in its being possibly recursively enumerable and the machine being physically implementable. Chapter \textbf{10} examines the philosophical significance of hyperintensional $\Omega$-logic in set theory and discusses the hyperintensionality of metamathematics. Chapter \textbf{11} provides a modal logic for rational intuition and provides a hyperintensional semantics. Chapter \textbf{12} avails of modal coalgebras to interpret the defining properties of indefinite extensibility, and avails of hyperintensional epistemic two-dimensional semantics in order to account for the interaction between the interpretational and objective modalities and truthmakers thereof. This yields the first hyperintensional category theory in the literature. I invent a new mathematical trick in which first order structures are treated as categories, and Vopenka's principle can be satisfied because of the elementary embeddings between the categories and generate Vopenka cardinals while bypassing the category of Set in category theory. Chapter \textbf{13} examines modal responses to the alethic paradoxes. Chapter \textbf{14} examines, finally, the modal and hyperintensional semantics for the different types of intention and the relation of the latter to evidential decision theory. (shrink)

This paper examines a recent argument in favour of strong precautionary action—possibly including working to hasten human extinction—on the basis of a decision-theoretic view that accommodates the risk-attitudes of all affected while giving more weight to the more risk-averse attitudes. First, we dispute the need to take into account other people’s attitudes towards risk at all. Second we argue that a version of the non-identity problem undermines the case for doing so in the context of future people. Lastly, we suggest (...) that we should not work to hasten human extinction, even if significant risk aversion is warranted. (shrink)

Pascal’s Wager involves expected utilities. In this chapter, we examine the Wager in light of two main features of expected utility theory: utilities and probabilities. We discuss infinite and finite utilities, and zero, infinitesimal, extremely low, imprecise, and undefined probabilities. These have all come up in recent literature regarding Pascal’s Wager. We consider the problems each creates and suggest prospects for the Wager in light of these problems.

This book concerns the foundations of epistemic modality. I examine the nature of epistemic modality, when the modal operator is interpreted as concerning both apriority and conceivability, as well as states of knowledge and belief. The book demonstrates how epistemic modality relates to the computational theory of mind; metaphysical modality; the types of mathematical modality; to the epistemic status of large cardinal axioms, undecidable propositions, and abstraction principles in the philosophy of mathematics; to the modal profile of rational intuition; and (...) to the types of intention, when the latter is interpreted as a modal mental state. Chapter \textbf{2} argues for a novel type of expressivism based on the duality between the categories of coalgebras and algebras, and argues that the duality permits of the reconciliation between modal cognitivism and modal expressivism. I also develop a novel topic-sensitive truthmaker semantics for dynamic epistemic logic, and develop a novel dynamic epistemic two-dimensional hyperintensional semantics. Chapter \textbf{3} provides an abstraction principle for epistemic intensions. Chapter \textbf{4} advances a topic-sensitive two-dimensional truthmaker semantics, and provides three novel interpretations of the framework along with the epistemic and metasemantic. Chapter \textbf{5} applies the fixed points of the modal $\mu$-calculus in order to account for the iteration of epistemic states, by contrast to availing of modal axiom 4 (i.e. the KK principle). Chapter \textbf{6} advances a solution to the Julius Caesar problem based on Fine's `criterial' identity conditions which incorporate conditions on essentiality and grounding. Chapter \textbf{7} provides a ground-theoretic regimentation of the proposals in the metaphysics of consciousness and examines its bearing on the two-dimensional conceivability argument against physicalism. The topic-sensitive epistemic two-dimensional truthmaker semantics developed in chapter \textbf{4} is availed of in order for epistemic states to be a guide to metaphysical states in the hyperintensional setting. Chapters \textbf{8-12} provide cases demonstrating how the two-dimensional intensions of epistemic two-dimensional semantics solve the access problem in the epistemology of mathematics. Chapter \textbf{8} examines the interaction between topic-sensitive epistemic two-dimensional truthmaker semantics, the axioms of epistemic set theory, large cardinal axioms, the Epistemic Church-Turing Thesis, the modal axioms governing the modal profile of $\Omega$-logic, Orey sentences such as the Generalized Continuum Hypothesis, and absolute decidability. Chapter \textbf{9} examines the modal profile of $\Omega$-logic in set theory. Chapter \textbf{10} examines the modal commitments of abstractionism, in particular necessitism, and epistemic modality and the epistemology of abstraction. Chapter \textbf{11} avails of modal coalgebras to interpret the defining properties of indefinite extensibility, and avails of epistemic two-dimensional semantics in order to account for the interaction of the interpretational and objective modalities thereof. Chapter \textbf{12} provides a modal logic for rational intuition and provides a hyperintensional semantics. Chapter \textbf{13} examines modal responses to the alethic paradoxes. Chapter \textbf{14} examines, finally, the modal semantics for the different types of intention and the relation of the latter to evidential decision theory. The multi-hyperintensional, topic-sensitive epistemic two-dimensional truthmaker semantics developed in chapters \textbf{2} and \textbf{4} is applied in chapters \textbf{7}, \textbf{8}, \textbf{10}, \textbf{11}, \textbf{12}, and \textbf{14}.}. (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)

This paper argues that the types of intention can be modeled both as modal operators and via a multi-hyperintensional semantics. I delineate the semantic profiles of the types of intention, and provide a precise account of how the types of intention are unified in virtue of both their operations in a single, encompassing, epistemic space, and their role in practical reasoning. I endeavor to provide reasons adducing against the proposal that the types of intention are reducible to the mental states (...) of belief and desire, where the former state is codified by subjective probability measures and the latter is codified by a utility function. I argue, instead, that each of the types of intention -- i.e., intention-in-action, intention-as-explanation, and intention-for-the-future -- has as its aim the value of an outcome of the agent's action, as derived by her partial beliefs and assignments of utility, and as codified by the value of expected utility in evidential decision theory. (shrink)

The desirability of what actually occurs is often influenced by what could have been. Preferences based on such value dependencies between actual and counterfactual outcomes generate a class of problems for orthodox decision theory, the best-known perhaps being the so-called Allais Paradox. In this paper we solve these problems by extending Richard Jeffrey's decision theory to counterfactual prospects, using a multidimensional possible-world semantics for conditionals, and showing that preferences that are sensitive to counterfactual considerations can still be desirability maximising. We (...) end the paper by investigating the conditions necessary and sufficient for a desirability function to be an expected utility. It turns out that the additional conditions imply highly implausible epistemic principles. (shrink)

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 (...) problem with that approach is that it suggests that attitudes to risk are wholly distinct from people's (non-instrumental) desires. To overcome this problem, we develop a framework where an agent's utility function is defined over chance propositions (i.e., propositions describing objective probability distributions) as well as ordinary (non-chance) ones, and argue that one should explain different risk attitudes in terms of different forms of the utility function over such propositions. (shrink)

Chance Neutrality is the thesis that, conditional on some proposition being true, its chance of being true should be a matter of practical indifference. The aim of this article is to examine whether Chance Neutrality is a requirement of rationality. We prove that given Chance Neutrality, the Principal Principle entails a thesis called Linearity; the centerpiece of von Neumann and Morgenstern’s expected utility theory. With this in mind, we argue that the Principal Principle is a requirement of practical rationality but (...) that Linearity is not and, hence, that Chance Neutrality is not rationally required. (shrink)

Pursuing difficult long-term goals typically involves encountering substantial evidence of possible future failure. If decisions to pursue such goals are serious only if one believes that one will act as one has decided, then some of our lives’ most important decisions seem to require belief against the evidence. This is the puzzle of difficult action, to which I offer a solution. I argue that serious decisions to φ do not have to give rise to a belief that one will φ, (...) but can instead be accompanied by a hope to φ. Hope can motivate and rationalize the various actions that we associate with serious commitment. It can also account for the existence of special pressures to adopt an agential stance toward one’s future. Because hope can be cognitively rational when belief is not, there is no problematic tension between the ideal of epistemic rationality and the phenomenon of difficult action. (shrink)

Considering the popular framing of an artificial intelligence as a rational agent that always seeks to maximise its expected utility, referred to as its goal, one of the features attributed to such rational agents is that they will never select an action which will change their goal. Therefore, if such an agent is to be friendly towards humanity, one argument goes, we must understand how to specify this friendliness in terms of a utility function. Wolfhart Totschnig, argues in contrast that (...) a fully autonomous agent will have the ability to change its utility function and will do so guided by its values. This commentary examines computational accounts of goals, values and decision-making. It rejects the idea that a rational agent will never select an action that changes its goal but also argues that an artificial intelligence is unlikely to be purely rational in terms of always acting to maximise a utility function. It nevertheless also challenges the idea that an agent which does not change its goal cannot be considered fully autonomous. It does agree that values are an important component of decision-making and explores a number of reasons why. (shrink)

According to Bayesian orthodoxy, an agent should update---or at least should plan to update---her credences by conditionalization. Some have defended this claim by means of a diachronic Dutch book argument. They say: an agent who does not plan to update her credences by conditionalization is vulnerable (by her own lights) to a diachronic Dutch book, i.e., a sequence of bets which, when accepted, guarantee loss of utility. Here, I show that this argument is in tension with evidence externalism, i.e., the (...) view that an agent's evidence can entail non-trivial propositions about the external world. I argue that this tension casts doubt on the idea that diachronic Dutch books can be used to justify or vindicate updating plans. (shrink)

Is epistemic inconsistency a mere symptom of having violated other requirements of rationality—notably, reasons-responsiveness requirements? Or is inconsistency irrational on its own? This question has important implications for the debate on the normativity of epistemic rationality. In this paper, I defend a new account of the explanatory role of the requirement of epistemic consistency. Roughly, I will argue that, in cases where an epistemically rational agent is permitted to believe P and also permitted to disbelieve P, the consistency requirement plays (...) a distinct explanatory role. I will also argue that such a type of permissiveness is a live possibility when it comes to rational epistemic standards. (shrink)

L. A. Paul argues that epistemically transformative choice poses a special problem for standard theories of decision: when values of outcomes cannot be known in advance, deliberation cannot even get started. A standard response to this is to represent ignorance of the nature of an experience as uncertainty about its utility. Assign subjective probabilities over the range of possible utilities it may have, and an expected utility for the outcome can be figured despite the agent’s ignorance of its nature. But (...) this response to Paul’s challenge seems inadequate. Decision theory should leave conceptual room for rational neophobia. A decision theory like Isaac Levi’s, which allows for indeterminacy in utility, might accomodate the phenomenon. Levi’s discussion of indeterminate utility has focused on examples of risk aversion like the Allais problem and on situations in which there are conflicts of value. Cases of unknowable value arising in transformative choice problems might be handled similarly. (shrink)

We present experimental evidence that supports the thesis :602–625, 2015, Br J Philos Sci 70:77–102, 2019; Bradley in Decisions theory with a human face, Cambridge University Press, Cambridge, 2017; Goldschmidt and Nissan-Rozen in Synthese 198:7553–7575, 2021) that people might positively or negatively desire risky prospects conditional on only some of the prospects’ outcomes obtaining. We argue that this evidence has important normative implications for the central debate in normative decision theory between two general approaches on how to rationalize several common (...) patterns of preference, which are ruled out as irrational by orthodox decision theory, namely the re-individuation approach and the non-expected utility approach. (shrink)

Although expected utility theory has proven a fruitful and elegant theory in the finite realm, attempts to generalize it to infinite values have resulted in many paradoxes. In this paper, we argue that the use of John Conway's surreal numbers shall provide a firm mathematical foundation for transfinite decision theory. To that end, we prove a surreal representation theorem and show that our surreal decision theory respects dominance reasoning even in the case of infinite values. We then bring our theory (...) to bear on one of the more venerable decision problems in the literature: Pascal's Wager. Analyzing the wager showcases our theory's virtues and advantages. To that end, we analyze two objections against the wager: Mixed Strategies and Many Gods. After formulating the two objections in the framework of surreal utilities and probabilities, our theory correctly predicts that (1) the pure Pascalian strategy beats all mixed strategies, and (2) what one should do in a Pascalian decision problem depends on what one's credence function is like. Our analysis therefore suggests that although Pascal's Wager is mathematically coherent, it does not deliver what it purports to, a rationally compelling argument that people should lead a religious life regardless of how confident they are in theism and its alternatives. (shrink)

Conservative assumptions in medical ethics risk immense harms during a pandemic. Public health institutions and public discourse alike have repeatedly privileged inaction over aggressive medical interventions to address the pandemic, perversely increasing population-wide risks while claiming to be guided by ‘caution’. This puzzling disconnect between rhetoric and reality is suggestive of an underlying philosophical confusion. In this paper, I argue that we have been misled by status quo bias—exaggerating the moral significance of the risks inherent in medical interventions, while systematically (...) neglecting the risks inherent in the status quo prospect of an out-of-control pandemic. By coming to appreciate the possibility and significance of status quo risk, we will be better prepared to respond appropriately when the next pandemic strikes. (shrink)

This paper proposes a new model of graded modal judgment. It begins by problematizing the phenomenon: given plausible constraints on the logic of epistemic modality, it is impossible to model graded attitudes toward modal claims as judgments of probability targeting epistemically modal propositions. This paper considers two alternative models, on which modal operators are non-proposition-forming: (1) Moss (2015), in which graded attitudes toward modal claims are represented as judgments of probability targeting a “proxy” proposition, belief in which would underwrite belief (...) in the modal claim. (2) A model on which graded attitudes toward modal claims are represented as judgments of credence taking as their objects (non-propositional) modal representations (rather than proxy propositions). The second model, like Moss’ model, is shown to be semantically and mathematically tractable. The second model, however, can be straightforwardly integrated into a plausible model of the role of graded attitudes toward modal claims in cognition and normative epistemology. (shrink)

This paper explores the idea that a semantics for ‘ought’ should be neutral between different ways of deciding what an agent ought to do in a situation. While the idea is, I argue, well-motivated, taking it seriously leads to surprising, even paradoxical, problems for theorizing about the meaning of ‘ought’. This paper describes and defends one strategy—a form of Expressivism for the modal ‘ought’—for navigating these problems.

Volume 98, Issue 4, December 2020, Page 747-762.

This is a discussion of Richard Pettigrew's book "Accuracy and the Laws of Credence". I target Pettigrew's application of the accuracy framework to derive chance-credence principles. My principal contention is that Pettigrew's preferred version of the argument might in one sense be circular and, moreover, that Pettigrew's premises have content that go beyond that of standard chance-credence principles.

It has been recently suggested that a semantic theory for deontic modals should be neutral between a very large range of normative and evaluative theories. This article aims to clarify this talk of neutrality, in particular its scope and motivation. My thesis is that neutrality is best understood as an empirical thesis about a fragment of natural language that includes deontic modals – not as a new, sui generis methodological constraint on natural language semantics.

It is natural to think that there is something epistemically objectionable about avoiding evidence, at least in ideal cases. We argue that this thought is inconsistent with a kind of risk-avoidance...

This article sets out a formal procedure for determining the probability that God would do a specified action, using our moral knowledge and understanding God as a perfect being. To motivate developing the procedure I show how natural theology – design arguments, the problems of evil and divine hiddenness, and the treatment of miracles and religious experiences as evidence for claims about God – routinely appeals to judgments involving these probabilities. To set out the procedure, I describe a decision-theoretic model (...) for practical reasoning which is deontological so as to appeal to theists, but is designed not to presuppose any substantive moral commitments, and to accommodate normative and non-normative uncertainty. Then I explain how judgments about what we probably ought to do can be transformed into judgments about what God would probably do. Then I show the usefulness of the procedure by describing how it can help structure discussions in natural theology and a-theology, and how it offers an attractive alternative to ‘skeptical theism’. (shrink)

This essay argues that when setting climate policy, we should place more weight on worse possible consequences of a policy, while still placing some weight on better possible consequences. The argument proceeds by elucidating the range of attitudes people can take towards risk, how we must make choices for people when we don’t know their risk-attitudes, and the situation we are in with respect to climate policy and the consequences for future people. The result is an alternative to the Precautionary (...) Principle, an alternative that gives similar policy recommendations in many cases but is also sensitive to the costs of precautions. (shrink)

I reply to two commentaries—one by Johanna Thoma and Jonathan Weisberg and one by James M. Joyce—concerning how risk-weighted expected utility theory handles the Allais preferences and Dutch books.

The good of those who are worse off matters more to the overall good than the good of those who are better off does. But being worse off than one’s fellows is not itself bad; nor is inequality itself bad; nor do differences in well-being matter more when well-being is lower in an absolute sense. Instead, the good of the relatively worse-off weighs more heavily in the overall good than the good of the relatively better-off does, in virtue of the (...) fact that the former are relatively worse off. This paper articulates and defends the view just described. (shrink)

I have claimed that risk-weighted expected utility maximizers are rational, and that their preferences cannot be captured by expected utility theory. Richard Pettigrew and Rachael Briggs have recently challenged these claims. Both authors argue that only EU-maximizers are rational. In addition, Pettigrew argues that the preferences of REU-maximizers can indeed be captured by EU theory, and Briggs argues that REU-maximizers lose a valuable tool for simplifying their decision problems. I hold that their arguments do not succeed and that my original (...) claims still stand. However, their arguments do highlight some costs of REU theory. (shrink)

The orthodox theory of instrumental rationality, expected utility (EU) theory, severely restricts the way in which risk-considerations can figure into a rational individual's preferences. It is argued here that this is because EU theory neglects an important component of instrumental rationality. This paper presents a more general theory of decision-making, risk-weighted expected utility (REU) theory, of which expected utility maximization is a special case. According to REU theory, the weight that each outcome gets in decision-making is not the subjective probability (...) of that outcome; rather, the weight each outcome gets depends on both its subjective probability and its position in the gamble. Furthermore, the individual's utility function, her subjective probability function, and a function that measures her attitude towards risk can be separately derived from her preferences via a Representation Theorem. This theorem illuminates the role that each of these entities plays in preferences, and shows how REU theory explicates the components of instrumental rationality. (shrink)

My book Risk and Rationality argues for a new alternative to the orthodox theory of rational decision-making. This alternative, risk-weighted expected utility maximization, holds that there are three important components involved in rational decision-making: utilities, probabilities, and risk-attitudes. This essay explains the basic outline of the theory and precisely how it differs from the orthodox theory. It also summarizes the main threads of argument in the book.

Certain ethical views hold that we should pay more attention, even exclusive attention, to the worst-case scenario. Prominent examples include Rawls's Difference Principle and the Precautionary Principle. These views can be anchored in formal principles of decision theory, in two different ways. On the one hand, they can rely on ambiguity-aversion: the idea that we cannot assign sharp probabilities to various scenarios, and that if we cannot assign sharp probabilities, we should decide pessimistically, as if the probabilities are unfavorable. On (...) the other hand, they can rely on risk-avoidance: the idea that we should pay more attention to worse scenarios, even when we can assign sharp probabilities. I distinguish these two foundations. I also show how they can be modified to support versions of these views that pay more but not exclusive attention to worst-case scenarios. Finally, I argue that risk-avoidance provides a superior foundation than ambiguity-aversion for the Difference Principle and the Precautionary Principle; in particular, it correctly identifies which ethical facts should matter to those who champion these principles. (shrink)

This paper addresses the question of whether gathering additional evidence is always rationally required, both from the point of view of instrumental rationality and of epistemic rationality. It is shown that in certain situations, it is not instrumentally rational to look for more evidence before making a decision. These are situations in which the risk of “misleading” evidence – a concept that has both instrumental and epistemic senses – is not offset by the gains from the possibility of non-misleading evidence. (...) These situations also undermine a particular argument for the claim that it is epistemically rational to look for more evidence, though it is argued that the relationship between instrumental and epistemic rationality makes such arguments flawed to begin with. Furthermore, these situations show us that our epistemic and our practical goals sometimes point us in different directions, not merely because of our limited resources or because our desires are sometimes best served by being in particular epistemic states, but because of the nature of rational action. (shrink)

It is sometimes said that faith is recalcitrant in the face of new evidence, but it is puzzling how such recalcitrance could be rational or laudable. I explain this aspect of faith and why faith is not only rational, but in addition serves an important purpose in human life. Because faith requires maintaining a commitment to act on the claim one has faith in, even in the face of counter-evidence, faith allows us to carry out long-term, risky projects that we (...) might otherwise abandon. Thus, faith allows us to maintain integrity over time. (shrink)

In the peer disagreement debate, three intuitively attractive claims seem to conflict: there is disagreement among peers on many important matters; peer disagreement is a serious challenge to one’s own opinion; and yet one should be able to maintain one’s opinion on important matters. I show that contrary to initial appearances, we can accept all three of these claims. Disagreement significantly shifts the balance of the evidence; but with respect to certain kinds of claims, one should nonetheless retain one’s beliefs. (...) And one should retain them even though these beliefs would not be supported by the new total evidence if one didn’t already hold them. (shrink)

Risk-weighted expected utility theory permits preferences which violate the Sure-Thing Principle. But preferences that violate the STP can lead to bad decisions in sequential choice problems. In particular, they can lead decision-makers to adopt a strategy that is dominated – i.e. a strategy such that some available alternative leads to a better outcome in every possible state of the world.

Imprecise probabilities are an increasingly popular way of reasoning about rational credence. However they are subject to an apparent failure to display convincing inductive learning. This paper demonstrates that a small modification to the update rule for IP allows us to overcome this problem, albeit at the cost of satisfying only a weaker concept of coherence.

According to a common judgement, a social planner should often use a lottery to decide which of two people should receive a good. This judgement undermines one of the best-known arguments for utilitarianism, due to John C. Harsanyi, and more generally undermines axiomatic arguments for utilitarianism and similar views. In this paper we ask which combinations of views about (a) the social planner’s attitude to risk and inequality, and (b) the subjects’ attitudes to risk are consistent with the aforementioned judgement. (...) We find that the class of combinations of views that can plausibly accommodate this judgement is quite limited. But one theory does better than others: the theory of chance-sensitive utility. (shrink)

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. (...) Finally, we revisit the aggregation of probabilistic judgments when this is constrained by prior aggregation of qualitative causal judgments. (shrink)

Choice often proceeds in two stages: We construct a shortlist on the basis of limited and uncertain information about the options and then reduce this uncertainty by examining the shortlist in greater detail. The goal is to do well when making a final choice from the option set. I argue that we cannot realise this goal by constructing a ranking over the options at shortlisting stage which determines of each option whether it is more or less worthy of being included (...) in a shortlist. This is relevant to the 2010 UK Equality Act. The Act requires that shortlists be constructed on grounds of candidate rankings and affirmative action is only permissible for equally qualified candidates. This is misguided: Shortlisting candidates with lower expected qualifications but higher variance may raise the chance of finding an exceptionally strong candidate. If it does, then shortlisting such candidates would make eminent business sense and there is nothing unfair about it. This observation opens up room for including more underrepresented candidates with protected characteristics, as they are more likely to display greater variance in the selector’s credence functions at shortlisting stage. (shrink)

In this paper, we propose a novel account of desire reports, i.e. sentences of the form 'S wants p'. Our theory is partly motivated by Phillips-Brown's (2021) observation that subjects can desire things even if those things aren't best by the subject's lights. That is, being best isn't necessary for being desired. We compare our proposal to existing theories, and show that it provides a neat account of the central phenomenon.