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Switch to: References
Citations of:
Pure time preference
Pacific Philosophical Quarterly 92 (4):490-508 (2011)
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Craig Callender [2022] provides a novel challenge to the non-arbitrariness principle. His challenge plays an important role in his argument for the rational permissibility of a non-exponential temporal discounting rate. But the challenge is also of wider interest: it raises significant questions about whether we ought to accept the non-arbitrariness principle as a constraint on rational preferences. In this paper, I present two reasons to resist Callender’s challenge. First, I present a reason to reject his claim that the non-arbitrariness principle (...) |
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Empirical evidence shows that people have multiple time-biases. One is near-bias; another is future-bias. Philosophical theorising about these biases often proceeds on two assumptions. First, that the two biases are _independent_: that they are explained by different factors (the independence assumption). Second, that there is a normative asymmetry between the two biases: one is rationally impermissible (near-bias) and the other rationally permissible (future-bias). The former assumption at least partly feeds into the latter: if the two biases were not explained by (...) |
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Johansson and Rosenqvist reject our argument for the rational permissibility of pure time preferences. Johansson and Rosenqvist's main objection is that where two options, X and Y, have equal intrinsic value, there will be a reason to be indifferent between X and Y, and therefore a reason to not hold a PTP for X or Y. In this reply, we argue that if two options have equal intrinsic value, it does not follow that you have a reason to be indifferent. (...) |
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Johansson and Rosenqvist reject our argument for the rational permissibility of pure time preferences (PTP). Johansson and Rosenqvist's main objection is that where two options, X and Y, have equal intrinsic value, there will be a reason to be indifferent between X and Y, and therefore a reason to not hold a PTP for X or Y. In this reply, we argue that if two options have equal intrinsic value, it does not follow that you have a reason to be (...) |
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This paper investigates two assumptions of the exponential discounted utility theory (EDU) to which Callender draws our attention: namely that we can cleanly distinguish pure from impure temporal preferences, and that past discounting can be ignored. Drawing on recent empirical work in this area, we argue that in so far as one might have thought that past-directed preferences are more pure than future ones, then there is evidence that people’s pure preferences (in so far as we can make sense of (...) |
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A pure time preference is a preference for something to occur at one point in time rather than another, merely because of when it occurs in time. Such preferences are widely regarded as paradigm examples of irrational preferences. However, Rosemary Lowry and Martin Peterson have recently argued that, for instance, a pure time preference to go to the opera tonight rather than next month may be rationally permissible, even if the amounts of intrinsic value realized in both cases are identical. (...) |
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In “Experience and Time,” Brian Garrett poses a challenge to friends of the rationality of pure time preferences. In this discussion note, we accept the challenge and provide two kinds of cases wherein some pure time preferences could be deemed rational. |
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I find much to like in Craig Callender's [2022] arguments for the rational permissibility of non-exponential time discounting when these arguments are viewed in a conditional form: viz., if one thinks that time discounting is rationally permissible, as the social scientist does, then one should think that non-exponential time discounting is too. However, time neutralists believe that time discounting is rationally impermissible, and thus they take zero time discounting to be the normative standard. The time neutralist rejects time discounting because (...) |
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Until recently, philosophers debating the rationality of time-biases have supposed that people exhibit a first-person hedonic bias toward the future, but that their non-hedonic and third-person preferences are time-neutral. Recent empirical work, however, suggests that our preferences are more nuanced. First, there is evidence that our third-person preferences exhibit time-neutrality only when the individual with respect to whom we have preferences—the preference target—is a random stranger about whom we know nothing; given access to some information about the preference target, third-person (...) |
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Discounting is a manifestation of behavioral impulsivity, which is closely related to self-regulation processes. The decision-making process for intertemporal choices is governed by the inhibition of impulses, which can influence both risk and time-related attitudes. This paper utilizes self-reported measures of risk, impatience, and impulsivity attitudes to examine their impact on the implicit discount rate used when weighing the current purchase cost against future energy savings of appliances. It analyzes and tests the interplay between these attitudes using specific functional forms (...) |
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A comprehensive theory of rational prudence would explain how a person should adjudicate among the conflicting interests of her past, present, future and counterfactual selves. For example, when a person is having an identity crisis, perhaps because she has suddenly become disabled, she may be left with no sense of purpose to keep her going. In her despondent state, she may think it prudent to give up on life now even if she would soon adopt a different set of values (...) |
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This paper challenges the conventional wisdom dominating the social sciences and philosophy regarding temporal discounting, the practice of discounting the value of future utility when making decisions. Although there are sharp disagreements about temporal discounting, a kind of standard model has arisen, one that begins with a normative standard about how we should make intertemporal comparisons of utility. This standard demands that in so far as one is rational one discounts utilities at future times with an exponential discount function. Tracing (...) |
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Ideal carbon tax policy is internationally coordinated, fully internalizes externalities, redistributes revenues to those harmed, and is politically acceptable, generating predictable market signals. Since nonideal circumstances rarely allow all these conditions to be met, moral issues arise. This paper surveys some of the work in moral philosophy responding to several of these issues. First, it discusses the moral drivers for estimates of the social cost of carbon. Second, it explains how national self-interest can block climate action and suggests international policies—carbon (...) |
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The empirically documented fact is that people’s preferences are time -biased. The main aim of this paper is to analyse in which sense do time -biases violate the requirements of rationality, as many authors assume. I will demonstrate that contrary to many influential views in psychology, economy and philosophy it is very difficult to find why the bias toward the near violates the requirements rationality. I will also show why the bias toward the future violates the requirements of rationality in (...) |
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