This encyclopedia entry urges what it takes to be correctives to common (mis)understandings concerning the phenomenon of incommensurability and incomparability and briefly outlines some of their philosophical upshots.

Traditional procedures for rational updating fail when it comes to self-locating opinions, such as your credences about where you are and what time it is. This paper develops an updating procedure for rational agents with self-locating beliefs. In short, I argue that rational updating can be factored into two steps. The first step uses information you recall from your previous self to form a hypothetical credence distribution, and the second step changes this hypothetical distribution to reflect information you have genuinely (...) learned as time has passed. While the second step resembles traditional procedures of updating by conditionalization, the first is best understood by analogy to traditional models of how agents transmit self-locating opinions through ordinary interpersonal communication. (shrink)

Nowadays businesses are often expected to create not just financial, but multiple kinds of value—and they report on this using numbers and narratives. Multiple-value accounting narratives, such as those required by the Integrated Reporting framework, are often met with suspicion: accounting scholars have argued that inconsistencies between narratives and performances show that narratives are used for impression management rather than to accurately report the (ir)responsible behavior of companies. This paper proposes to assess narratives beyond inconsistencies with reported performances. Starting from (...) the idea that performances are delivered in response to the kinds of value in the situation of the company, we argue that narratives and performances should be analyzed together as interrelated elements and considered in relation to the kinds of value in the situation. The paper transforms the common consequentialist view on which value should be “increased,” into the value pluralist view that something being of value can require many different performances such as for example respecting, maximizing, admiring, maintaining, using, and bringing it about. From this perspective, multiple-value accounting narratives logically precede the reporting of performances and should identify the kinds of value in the situation to which the company ought to respond, which performances are required by these kinds of value, and which indicators and targets should be used to report on these performances. A brief analysis of the annual report of Unilever illustrates how such metaethical criteria can help assess and develop multiple-value accounting narratives. (shrink)

This paper defends a version of the view that, sometimes, rational choice between two options can be grounded on a good reason whose justifying force does not depend on how the two options compare. The route via which this view is arrived at does not presuppose the existence of incomparable options, and so allows for common ground with skeptics about incomparability. Still, it requires that challenging cases be acknowledged and addressed, rather than abstracted from or assumed away. Ultimately, the reasoning (...) provided suggests that rationality can handle quite a lot of messiness, which is important, since rationality wouldn’t be all that helpful if, whenever messiness threatened, we had to rush to its rescue rather than look to it for guidance. (shrink)

ABSTRACT:Profit maximizers have reasons to agree with stakeholder theorists that managers may need to consider different values simultaneously in decision making. However, it remains unclear how maximizing a single value can be reconciled with simultaneously considering different values. A solution can neither be found in substantive normative philosophical theories, nor in postulating the maximization of profit. Managers make sense of the values in a situation by means of the many thick value concepts of ordinary language. Thick evaluation involves the simultaneous (...) consideration of different values: making sense of a value always involves knowing how to engage with it given the other values in the situation. This also goes for profit: maximization is only one way of engaging with the value of profit, and grasping whether maximization is appropriate involves considering other values. We discuss some consequences of our approach for stakeholder theorists and profit maximizers. (shrink)

This essay discusses implications of incommensurability of values for justified decision-making, ethics and justice. Under particular conditions incommensurability of values causes what might be called ‘incomplete comparability’ of options. Some leading theorists interpret this in terms of ‘imprecise equality’ and ‘imprecise comparability.’ This interpretation is mistaken and conceals the implications of incommensurability for practical and ethical reasoning. The aim of this essay is to show that, in many cases, incommensurability prevents the assignment of determinate weights to competing values. This may (...) have problematic consequences for a complete and impartial justification of decisions concerning conflicting values to the extent that they depend on the need of weighing them. (shrink)

This article presents an approach to how to make reasonable social choices when independent criteria (e.g., prioritarianism, religious freedom) fail to fully determine what to do. The article outlines different explanations of why independent criteria sometimes fail to fully determine what to do and illustrates how they can still be used to eliminate ineligible alternatives, but it is argued that the independent criteria cannot ground a reasonable social choice in these situations. To complement independent criteria when they fail to fully (...) determine what to do, it is suggested that society must engage in public deliberation by way of generating new reasons that can determine how to rank the alternatives. It is suggested that the approach to social choice presented here reveals a way of accepting the relevance of independent criteria for social choice without letting go of the idea that the attitudes of affected parties matter. (shrink)

How should one understand comparisons in which neither of two alternatives is at least as good as the other? Much recent literature on comparability problems focuses on what the appropriate explanation of the phenomenon is. Is it due to vagueness or the possibility of non-conventional comparative relations such as parity? This paper argues that the discussions on how to best explain comparability problems has reached an impasse at which it is hard to make any progress. To advance the discussion we (...) suggest a new classification of comparability problems that focuses on the problems they cause for practical reasoning. (shrink)

Big decisions in a person’s life often affect the preferences and standards of a good life which that person’s future self will develop after implementing her decision. This paper argues that in such cases the person might lack any reasons to choose one way rather than the other. Neither preference-based views nor happiness-based views of justified choice offer sufficient help here. The available options are not comparable in the relevant sense and there is no rational choice to make. Thus, ironically, (...) in many of a person’s most important decisions the idea of that person’s good seems to have no application. (shrink)

According to one prominent view of rationality, for the choice of alternative to be justified, it must be at least as good as other alternatives. Michael Jensen has recently invoked this view to argue that managers should act exclusively to maximize the long-run market value of economic enterprises. According to Jensen, alternative accounts of managerial responsibility, such as stakeholder theory, are to be rejected because they lack a single measure to compare alternatives as better or worse. Against Jensen’s account, this (...) paper argues that choosing the alternative that is at least as good as other alternatives need not preclude managers from respecting considerations in addition to long-run market value. The paper argues that such considerations may be incorporated into managerial decision-making by introducing constraints and priorities into the process of maximizing long-run market value and by allowing for “clumpy” values. (shrink)

A notorious problem that has recently received increased attention in axiology, normative theory and population ethics is the apparent ubiquity of what can be generally called nondeterminacy. This paper illustrates how nondeterminacy can spawn cyclical rankings. So, accepting that practical reasons can admit of nondeterminacy challenges the widely held idea that ‘better than’ is transitive. As a result, standard approaches to rational choice under nondeterminacy fail to be action-guiding, since in some situations all options are dominated, that is, impermissible according (...) to standard rational choice criteria. (shrink)