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Preference, Value, Choice, and Welfare

Cambridge University Press (2011)

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  1. Nudging and Participation: a Contractualist Approach to Behavioural Policy.Johann Jakob Häußermann - 2020 - Philosophy of Management 19 (1):45-68.
    As behavioural economics reveals, human decision-making deviates from neoclassical assumptions about human behaviour and people (often) fail to make the ‘right’ welfare-enhancing choice. The purpose of Sunstein and Thaler’s concept of ‘nudge’ is to improve individual welfare. To provide normative justification, they argue that the only relevant normative criterion is whether the individual is ‘better off as judged by themselves’, so that the direction in which people are to be nudged is defined by their own preferences. In light of behavioural (...)
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  • Aligning Innovation and Ethics: an Approach to Responsible Innovation Based on Preference Learning.Johann Jakob Häußermann & Fabian Schroth - 2020 - Philosophy of Management 19 (3):349-364.
    New technologies not only contribute greatly to society and the economy; they also involve fundamental societal shifts, challenging our values and ideas about ourselves and the world. With a view to aligning technological change and innovation with ethical values, the concept of responsible innovation advocates the inclusion of a variety of stakeholders, in particular from society. In shifting moral responsibility towards the producers of innovations, responsible innovation rejects the standard normative economic view that the ethical evaluation of innovations is a (...)
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  • CHOICE: an Objective, Voluntaristic Theory of Prudential Value.Walter Horn - 2020 - Philosophia 48 (1):191-215.
    It is customary to think that Objective List (“OL), Desire-Satisfaction (“D-S”) and Hedonistic (“HED”) theories of prudential value pretty much cover the waterfront, and that those of the three that are “subjective” are naturalistic (in the sense attacked by Moore, Ross and Ewing), while those that are “objective” must be Platonic, Aristotelian or commit the naturalist fallacy. I here argue for a theory that is both naturalistic (because voluntaristic) and objective but neither Platonic, Aristotelian, nor (I hope) fallacious. In addition, (...)
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  • The Narrowed Domain of Disagreement for Well-Being Policy.Gil Hersch - 2018 - Public Affairs Quarterly 32 (1):1-19.
    in recent years, policy makers have shown increasing interest in implementing policies aimed at promoting individual well-being. But how should policy makers choose their well-being policies? a seemingly reasonable first step is to settle on an agreed-upon definition of well-being. yet there currently is significant disagreement on how well-being ought to be characterized, and agreement on the correct view of well-being does not appear to be forthcoming. Nevertheless, i argue in this paper that there are several reasons to think that (...)
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  • No Theory-Free Lunches in Well-Being Policy.Gil Hersch - 2020 - Philosophical Quarterly 70 (278):43-64.
    Generating an account that can sidestep the disagreement among substantive theories of well-being, while at the same time still providing useful guidance for well-being public policy, would be a significant achievement. Unfortunately, the various attempts to remain agnostic regarding what constitutes well-being fail to either be an account of well-being, provide useful guidance for well-being policy, or avoid relying on a substantive well-being theory. There are no theory-free lunches in well-being policy. Instead, I propose an intermediate account, according to which (...)
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  • Can an evidential account justify relying on preferences for well-being policy?Gil Hersch - 2015 - Journal of Economic Methodology 22 (3):280-291.
    Policy-makers sometimes aim to improve well-being as a policy goal, but to do this they need some way to measure well-being. Instead of relying on potentially problematic theories of well-being to justify their choice of well-being measure, Daniel Hausman proposes that policy-makers can sometimes rely on preference-based measures as evidence for well-being. I claim that Hausman’s evidential account does not justify the use of any one measure more than it justifies the use of any other measure. This leaves us at (...)
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  • How to Interpret Belief Hierarchies in Bayesian Game Theory: A Dilemma for the Epistemic Program.Cyril Hédoin - 2021 - Erkenntnis 88 (2):1-22.
    This article proposes two interpretations of the concept of belief hierarchies in Bayesian game theory: the behaviorist interpretation and the mentalist interpretation. On the former, belief hierarchies are derived from the players’ preferences over acts. On the latter, they are causal mechanisms that are responsible for the players’ choices and preferences over acts. The claim is that the epistemic program in game theory is potentially confronted with a dilemma regarding which interpretation should be adopted. If the behaviorist interpretation of belief (...)
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  • Orthodox and heterodox economics in recent economic methodology.D. Wade Hands - 2015 - Erasmus Journal for Philosophy and Economics 8 (1):61.
    This paper discusses the development of the field of economic methodology during the last few decades emphasizing the early influence of the "shelf" of Popperian philosophy and the division between neoclassical and heterodox economics. It argues that the field of methodology has recently adopted a more naturalistic approach focusing primarily on the "new pluralist" subfields of experimental economics, behavioral economics, neuroeconomics, and related subjects.
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  • Mark Blaug on the Normativity of Welfare Economics.D. Wade Hands - 2013 - Erasmus Journal for Philosophy and Economics 6 (3):1-25.
    Abstract: This paper examines Mark Blaug's position on the normative character of Paretian welfare economics: in general, and specifically with respect to his debate with Pieter Hennipman over this question during the 1990s. The paper also clarifies some of the confusions that emerged within the context of this debate, and closes by providing some additional arguments supporting Blaug's position that he himself did not provide.
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  • Foundations of Contemporary Revealed Preference Theory.D. Wade Hands - 2013 - Erkenntnis 78 (5):1081-1108.
    This paper examines methodological issues raised by revealed preference theory in economics: particularly contemporary revealed preference theory. The paper has three goals. First, to make the case that revealed preference theory is a broad research program in choice theory—not a single theory—and understanding this diversity is essential to any methodological analysis of the program. Second, to explore some of the existing criticisms of revealed preference theory in a way that emphasizes how the effectiveness of the critique depends on the particular (...)
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  • A Political Justification of Nudging.Francesco Guala & Luigi Mittone - 2015 - Review of Philosophy and Psychology 6 (3):385-395.
    Thaler and Sunstein justify nudge policies from welfaristic premises: nudges are acceptable because they benefit the individuals who are nudged. A tacit assumption behind this strategy is that we can identify the true preferences of decision-makers. We argue that this assumption is often unwarranted, and that as a consequence nudge policies must be justified in a different way. A possible strategy is to abandon welfarism and endorse genuine paternalism. Another one is to argue that the biases of decision that choice (...)
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  • Agency & Choice.James Grayot - 2019 - Erasmus Journal for Philosophy and Economics 12 (1):137-144.
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  • Ethics in the Software Development Process: from Codes of Conduct to Ethical Deliberation.Jan Gogoll, Niina Zuber, Severin Kacianka, Timo Greger, Alexander Pretschner & Julian Nida-Rümelin - 2021 - Philosophy and Technology 34 (4):1085-1108.
    Software systems play an ever more important role in our lives and software engineers and their companies find themselves in a position where they are held responsible for ethical issues that may arise. In this paper, we try to disentangle ethical considerations that can be performed at the level of the software engineer from those that belong in the wider domain of business ethics. The handling of ethical problems that fall into the responsibility of the engineer has traditionally been addressed (...)
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  • Rationality, preference satisfaction and anomalous intentions: why rational choice theory is not self-defeating.Roberto Fumagalli - 2021 - Theory and Decision 91 (3):337-356.
    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 (...)
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  • On the Individuation of Choice Options.Roberto Fumagalli - 2020 - Philosophy of the Social Sciences 50 (4):338-365.
    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 (...)
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  • Economics, Psychology, and the Unity of the Decision Sciences.Roberto Fumagalli - 2016 - Philosophy of the Social Sciences 46 (2):103-128.
    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 (...)
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  • On Sense and Preference.James Fanciullo - 2022 - Journal of Moral Philosophy 19 (3):280-302.
    Determining the precise nature of the connection between preference, choice, and welfare has arguably been the central project in the field of welfare economics, which aims to offer a proper guide for economists in the making of policy decisions that affect people’s welfare. The two leading approaches here historically – the revealed preference and latent preference approaches – seem equally incapable of so guiding economists. I argue that the deadlock here is due to welfare economists’ failure to recognize a crucial (...)
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  • Consequences of Comparability.Cian Dorr, Jacob M. Nebel & Jake Zuehl - 2021 - Philosophical Perspectives 35 (1):70-98.
    We defend three controversial claims about preference, credence, and choice. First, all agents (not just rational ones) have complete preferences. Second, all agents (again, not just rational ones) have real-valued credences in every proposition in which they are confident to any degree. Third, there is almost always some unique thing we ought to do, want, or believe.
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  • Altruistic Motivation Beyond Ultimate Desires.Junior Mendonca - 2023 - Dissertation, The University of Western Australia
    The term “altruism” is used in many ways. In this thesis, I discuss altruism as a motivation, which is an influential notion in philosophy and the social sciences. Questions about the nature and the possibility of altruistic motivation have inspired much debate, both in academia and in everyday conversations. How can we know when we are truly altruistic and when we are merely helping others as a means to some egoistic goal? Are humans even capable of genuine altruistic motivation or (...)
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  • Philosophy of economics.Daniel M. Hausman - 2008 - Stanford Encyclopedia of Philosophy.
    This is a comprehensive anthology of works concerning the nature of economics as a science, including classic texts and essays exploring specific branches and schools of economics. Apart from the classics, most of the selections in the third edition are new, as are the introduction and bibliography. No other anthology spans the whole field and offers a comprehensive introduction to questions about economic methodology.
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  • Happiness.Dan Haybron - forthcoming - Stanford Encyclopedia of Philosophy.
    There are roughly two philosophical literatures on “happiness,” each corresponding to a different sense of the term. One uses ‘happiness’ as a value term, roughly synonymous with well-being or flourishing. The other body of work uses the word as a purely descriptive psychological term, akin to ‘depression’ or ‘tranquility’. An important project in the philosophy of happiness is simply getting clear on what various writers are talking about: what are the important meanings of the term and how do they connect? (...)
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  • Preferences.Sven Ove Hansson & Till Grüne-Yanoff - 2008 - Stanford Encyclopedia of Philosophy.
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  • The Singular Plurality of Social Goods / La singolare pluralità dei beni sociali.Marco Emilio - 2022 - Dissertation, Université de Neuchâtel
    According to some philosophers and social scientists, mainstream economic theories currently play an unprecedented role in shaping human societies. This phenomenon can be linked to the dissemination of methodological individualism, where common goods are interpreted as reducible to aggregates of individuals' well-being. Nonetheless, some emergent difficulties of economics in coping with global institutional issues have encouraged some authors to revise that paradigm. In the last three decades, there has been a parallel growing philosophical interest in investigating social sciences' epistemological and (...)
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  • Folk Psychology and the Interpretation of Decision Theory.Johanna Thoma - 2020 - Ergo: An Open Access Journal of Philosophy 7.
    Most philosophical decision theorists and philosophers of the social sciences believe that decision theory is and should be in the business of providing folk psychological explanations of choice behaviour, and that it can only do so if we understand the preferences, utilities and probabilities that feature in decision-theoretic models as ascriptions of mental states not reducible to choice. The behavioural interpretation of preference and related concepts, still common in economics, is consequently cast as misguided. This paper argues that even those (...)
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  • Weakness of will. The limitations of revealed preference theory.Aleksander Ostapiuk - 2022 - Acta Oeconomica 1 (72):1-23.
    The phenomenon of weakness of will – not doing what we perceive as the best action – is not recognized by neoclassical economics due to the axiomatic assumptions of the revealed preference theory (RPT) that people do what is best for them. However, present bias shows that people have different preferences over time. As they cannot be compared by the utility measurements, economists need to normatively decide between selves (short- versus long-term preferences). A problem is that neoclassical economists perceive RPT (...)
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  • Deliberating value : On the theory and practice of valuation of nature from neoclassical to ecological economics.Lina Isacs - 2021 - Dissertation, Kth Royal Institute of Technology
    This thesis is about whether it is a good idea to place monetary value on nature, to remedy the fact that we treat it as having no particular value to us humans, although it clearly has. The thesis is based on five research papers that can be said to position themselves on opposite sides in the debate on monetisation of nature. The first two papers consider the basis of neoclassical environmental economics and apply the value theory and valuation methods from (...)
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  • Why the Realist-Instrumentalist Debate about Rational Choice Rests on a Mistake.Christine Tiefensee - 2015 - In Uskali Mäki, Ioannis Votsis, Stéphanie Ruphy & Gerhard Schurz (eds.), Recent Developments in the Philosophy of Science: EPSA13 Helsinki. Heidelberg: Springer. pp. 99-109.
    Within the social sciences, much controversy exists about which status should be ascribed to the rationality assumption that forms the core of rational choice theories. Whilst realists argue that the rationality assumption is an empirical claim which describes real processes that cause individual action, instrumentalists maintain that it amounts to nothing more than an analytically set axiom or ‘as if’ hypothesis which helps in the generation of accurate predictions. In this paper, I argue that this realist-instrumentalist debate about rational choice (...)
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  • Decision Sciences and the New Case for Paternalism: Three Welfare-Related Justificatory Challenges.Roberto Fumagalli - 2016 - Social Choice and Welfare 47 (2):459-480.
    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 (...)
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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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  • Economics Imperialism Reconsidered.S. M. Amadae - 2017 - In Uskali Mäki, Adrian Walsh & Manuela Fernández Pinto (eds.), Scientific Imperialism: Exploring the Boundaries of Interdisciplinarity. London, UK: pp. 140-160.
    This chapter uses Uskali Mäki’s (2009) concepts of “good” and “bad” imperialism to investigate the “economics imperialism” thesis. If science expands by offering (a) consilience, and (b) epistemological and ontological unity – that is, it explains more phenomena with greater parsimony – then this is good scientific expansion. Economics imperialism is only bad if the methodology of economics expands outside its domain without increasing understanding in the above manners.
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  • Bayesian Variations: Essays on the Structure, Object, and Dynamics of Credence.Aron Vallinder - 2018 - Dissertation, London School of Economics
    According to the traditional Bayesian view of credence, its structure is that of precise probability, its objects are descriptive propositions about the empirical world, and its dynamics are given by conditionalization. Each of the three essays that make up this thesis deals with a different variation on this traditional picture. The first variation replaces precise probability with sets of probabilities. The resulting imprecise Bayesianism is sometimes motivated on the grounds that our beliefs should not be more precise than the evidence (...)
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  • Robustness, Diversity of Evidence, and Probabilistic Independence.Jonah N. Schupbach - 2015 - In Mäki, Ruphy, Schurz & Votsis (eds.), Recent Developments in the Philosophy of Science: EPSA13 Helsinki. Springer. pp. 305-316.
    In robustness analysis, hypotheses are supported to the extent that a result proves robust, and a result is robust to the extent that we detect it in diverse ways. But what precise sense of diversity is at work here? In this paper, I show that the formal explications of evidential diversity most often appealed to in work on robustness – which all draw in one way or another on probabilistic independence – fail to shed light on the notion of diversity (...)
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