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Switch to: References
Citations of:
Making choices: a recasting of decision theory
New York: Cambridge University Press (1997)
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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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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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Many philosophers hold that for various reasons there must be psychological laws governing beliefs and desires. One of the few serious examples that they offer is the _belief-desire law_, which states, roughly, that _ceteris paribus_ people do what they believe will satisfy their desires. This paper argues that, in fact, there is no such law. In particular, decision theory does not support the contention that there is such a law. |
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Some writers have noted that valuation is often focused on foreseen changes. They say that we often don't value situations in terms of what we would have in them only but also in terms of the gains or losses that they offer us — that we then focus on departures from our status quo. They argue that such thinking conflicts with basic economic analysis, and also that it violates logic: they say that it is irrational. I agree that it seems (...) |
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It is a mistake to think that instrumental rationality fixes a single standard for judging or describing actions. While there is a core conception of instrumental rationality, we appeal to different elaborations of that conception for different purposes. An action can be instrumentally rational in some sense(s) but not in others. As we learn more about behavior, it is possible to add useful elaborations of the core conception of instrumental rationality. In this paper, I propose a new elaboration based on (...) |
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It is a mistake to think that instrumental rationality fixes a single standard for judging or describing actions. While there is a core conception of instrumental rationality, we appeal to different elaborations of that conception for different purposes. An action can be instrumentally rational in some sense(s) but not in others. As we learn more about behavior, it is possible to add useful elaborations of the core conception of instrumental rationality. In this paper, I propose a new elaboration based on (...) |
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It is central to standard economic theory that people act on their interests. People are interested in a variety of things, so a range of values should influence market behavior. When engaged in commerce, however, people generally act for personal gain; the influence of other values usually just disappears in the marketplace. What is missing from the standard account is that people often act on proper subsets of their interests. Economics can, however, be extended to capture this insight. Key Words: (...) |
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The options that people face are rarely ideal: they are good in some ways and poor in others. People have problems choosing among such options because they don’t know which ends to favor. Multiple objectives pose a problem not only for decision makers, but also for our account of decision making. People act to achieve their ends given their beliefs. In order to handle decisions with multiple objectives, however, this story must be supplemented by an account of which ends are (...) |
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The stakes-shifting cases suggest that pragmatic factors such as stakes play an important role in determining our intuitive judgments of whether or not S knows that p. This seems to be in conflict with intellectualism, according to which pragmatic factors in general should not be taken into account, when considering whether or not S knows that p. This paper develops a theory of judgments of knowledge status that reconciles intellectualism with our intuitive judgments regarding the stakes-shifting cases. I argue that (...) |
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In this paper I suggest a reconstruction of the traditional concepts of con-tinent and incontinent action. This reconstruction proceeds along the lines of a standpoint of bounded rationality. My suggestion agrees with some relevant aspects of Davidson’s treatment of this topic. One of these aspects is that incontinent action is typically signalled by the following two subjective experiences: a feeling of surprise towards one’s own action and a difficulty in understanding oneself; another is that incontinence cannot simply be disposed of (...) |
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We seek to illuminate the prevalence of cooperation among biologically unrelated individuals via an analysis of agency that recognizes the possibility of bonding and challenges the common view that agency is invariably an individual-level affair. Via bonding, a single individual’s behavior patterns or programs are altered so as to facilitate the formation, on at least some occasions, of a larger entity to whom is attributable the coordination of the component entities. Some of these larger entities will qualify as agents in (...) |
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