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Theory of Games and Economic Behavior

Princeton, NJ, USA: Princeton University Press (1944)

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  1. Forms of Luminosity: Epistemic Modality and Hyperintensionality in Mathematics.David Elohim - 2017 - Dissertation, Arché, University of St Andrews
    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, (...)
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  • Forms of Luminosity: Epistemic Modality and Hyperintensionality in Mathematics.David Elohim - 2017
    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, (...)
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  • Expected Comparative Utility Theory: A New Theory of Rational Choice.David Robert - 2018 - Philosophical Forum 49 (1):19-37.
    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 (...)
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  • The psychology of human risk preferences and vulnerability to scare-mongers: experimental economic tools for hypothesis formulation and testing.W. Harrison Glenn & Ross Don - 2016 - Journal of Cognition and Culture 16 (5):383-414.
    The Internet and social media have opened niches for political exploitation of human dispositions to hyper-alarmed states that amplify perceived threats relative to their objective probabilities of occurrence. Researchers should aim to observe the dynamic “ramping up” of security threat mechanisms under controlled experimental conditions. Such research necessarily begins from a clear model of standard baseline states, and should involve adding treatments to established experimental protocols developed by experimental economists. We review these protocols, which allow for joint estimation of risk (...)
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  • Levels of Altruism.Martin Zwick & Jeffrey A. Fletcher - 2014 - Biological Theory 9 (1):100-107.
    The phenomenon of altruism extends from the biological realm to the human sociocultural realm. This article sketches a coherent outline of multiple types of altruism of progressively increasing scope that span these two realms and are grounded in an ever-expanding sense of “self.” Discussion of this framework notes difficulties associated with altruism at different levels. It links scientific ideas about the evolution of cooperation and about hierarchical order to perennial philosophical and religious concerns. It offers a conceptual background for inquiry (...)
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  • An axiomatic approach to axiological uncertainty.Stefan Https://Orcidorg Riedener - 2020 - Philosophical Studies 177 (2):483-504.
    How ought you to evaluate your options if you’re uncertain about which axiology is true? One prominent response is Expected Moral Value Maximisation, the view that under axiological uncertainty, an option is better than another if and only if it has the greater expected moral value across axiologies. EMVM raises two fundamental questions. First, there’s a question about what it should even mean. In particular, it presupposes that we can compare moral value across axiologies. So to even understand EMVM, we (...)
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  • From knowledge to wisdom: a revolution in the aims and methods of science.Nicholas Maxwell - 1984 - Oxford: Blackwell.
    This book argues for the need to put into practice a profound and comprehensive intellectual revolution, affecting to a greater or lesser extent all branches of scientific and technological research, scholarship and education. This intellectual revolution differs, however, from the now familiar kind of scientific revolution described by Kuhn. It does not primarily involve a radical change in what we take to be knowledge about some aspect of the world, a change of paradigm. Rather it involves a radical change in (...)
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  • Expected comparative utility theory: A new theory of instrumental rationality.David Robert - manuscript
    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 (...)
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  • The Monstrous Conclusion.Luca Stroppa - forthcoming - Synthese.
    This paper introduces the Monstrous Conclusion, according to which, for any population, there is a better population consisting of just one individual (the Monster). The Monstrous Conclusion is deeply counterintuitive. I defend a version of Prioritarianism as a particularly promising population axiology that does not imply the Monstrous Conclusion. According to this version of Prioritarianism, which I call Asymptotic Prioritarianism, there is diminishing marginal moral importance of individual welfare that can get close to, but never quite reach, some upper limit. (...)
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  • Rationality: Constraints and Contexts.Timothy Joseph Lane & Tzu-Wei Hung (eds.) - 2016 - London, U.K.: Elsevier Academic Press.
    "Rationality: Contexts and Constraints" is an interdisciplinary reappraisal of the nature of rationality. In method, it is pluralistic, drawing upon the analytic approaches of philosophy, linguistics, neuroscience, and more. These methods guide exploration of the intersection between traditional scholarship and cutting-edge philosophical or scientific research. In this way, the book contributes to development of a suitably revised, comprehensive understanding of rationality, one that befits the 21st century, one that is adequately informed by recent investigations of science, pathology, non-human thought, emotion, (...)
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  • Rationality and its contexts.Timothy Lane - 2016 - In Timothy Joseph Lane & Tzu-Wei Hung (eds.), Rationality: Constraints and Contexts. London, U.K.: Elsevier Academic Press. pp. 3-13.
    A cursory glance at the list of Nobel Laureates for Economics is sufficient to confirm Stanovich’s description of the project to evaluate human rationality as seminal. Herbert Simon, Reinhard Selten, John Nash, Daniel Kahneman, and others, were awarded their prizes less for their work in economics, per se, than for their work on rationality, as such. Although philosophical works have for millennia attempted to describe, explicate and evaluate individual and collective aspects of rationality, new impetus was brought to this endeavor (...)
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  • Counterfactual Desirability.Richard Bradley & H. Orii Stefansson - 2017 - British Journal for the Philosophy of Science 68 (2):485-533.
    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 (...)
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  • Epistemic Risk and the Demands of Rationality.Richard Pettigrew - 2022 - Oxford, UK: Oxford University Press.
    How much does rationality constrain what we should believe on the basis of our evidence? According to this book, not very much. For most people and most bodies of evidence, there is a wide range of beliefs that rationality permits them to have in response to that evidence. The argument, which takes inspiration from William James' ideas in 'The Will to Believe', proceeds from two premises. The first is a theory about the basis of epistemic rationality. It's called epistemic utility (...)
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  • Infinite Prospects.Jeffrey Sanford Russell & Yoaav Isaacs - 2021 - Philosophy and Phenomenological Research 103 (1):178-198.
    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 (...)
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  • Rational monism and rational pluralism.Jack Spencer - 2020 - Philosophical Studies 178 (6):1769-1800.
    Consequentialists often assume rational monism: the thesis that options are always made rationally permissible by the maximization of the selfsame quantity. This essay argues that consequentialists should reject rational monism and instead accept rational pluralism: the thesis that, on different occasions, options are made rationally permissible by the maximization of different quantities. The essay then develops a systematic form of rational pluralism which, unlike its rivals, is capable of handling both the Newcomb problems that challenge evidential decision theory and the (...)
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  • In defence of Pigou-Dalton for chances.Stefánsson H. Orri - 2023 - Utilitas 35 (4):292-311.
    I defend a weak version of the Pigou-Dalton principle for chances. The principle says that it is better to increase the survival chance of a person who is more likely to die rather than a person who is less likely to die, assuming that the two people do not differ in any other morally relevant respect. The principle justifies plausible moral judgements that standard ex post views, such as prioritarianism and rank-dependent egalitarianism, cannot accommodate. However, the principle can be justified (...)
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  • Unbounded Utility.Zachary Goodsell - 2023 - Dissertation, University of Southern California
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  • What makes economics special: orientational paradigms.Paul Hoyningen-Huene & Harold Kincaid - 2023 - Journal of Economic Methodology (2):1-15.
    From the mid-1960s until the late 1980s, the well-known general philosophies of science of the time were applied to economics. The result was disappointing: none seemed to fit. This paper argues that this is due to a special feature of economics: it possesses ‘orientational paradigms’ in high number. Orientational paradigms are similar to Kuhn’s paradigms in that they are shared across scientific communities, but dissimilar to Kuhn’s paradigms in that they are not generally accepted as valid guidelines for further research. (...)
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  • Climate Change and Decision Theory.Andrea S. Asker & H. Orri Stefánsson - 2023 - In Pellegrino Gianfranco & Marcello Di Paola (eds.), Handbook of Philosophy of Climate Change. Springer Nature. pp. 267-286.
    Many people are worried about the harmful effects of climate change but nevertheless enjoy some activities that contribute to the emission of greenhouse gas (driving, flying, eating meat, etc.), the main cause of climate change. How should such people make choices between engaging in and refraining from enjoyable greenhouse-gas-emitting activities? In this chapter, we look at the answer provided by decision theory. Some scholars think that the right answer is given by interactive decision theory, or game theory; and moreover think (...)
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  • Population Ethics under Risk.Gustaf Arrhenius & H. Orri Stefánsson - forthcoming - Social Choice and Welfare.
    Population axiology concerns how to evaluate populations in terms of their moral goodness, that is, how to order populations by the relations “is better than” and “is as good as”. The task has been to find an adequate theory about the moral value of states of affairs where the number of people, the quality of their lives, and their identities may vary. So far, this field has largely ignored issues about uncertainty and the conditions that have been discussed mostly pertain (...)
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  • How Academic Opinion Leaders Shape Scientific Ideas: An Acknowledgment Analysis.Catherine Herfeld & Malte Doehne - forthcoming - Scientometrics.
    In this paper, we examine how a research institution’s social structure and academic opinion leaders’ presence shaped the early adoption of a scientific innovation. Our case considers the early engagement of mathematical economists at the Cowles Commission with John von Neumann and Oskar Morgenstern’s Theory of Games and Economic Behavior. We argue that scholars with administrative leadership functions who were not only scientifically but also organizationally central – in our case the director of research Jacob Marschak – played a crucial (...)
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  • Partner choice, fairness, and the extension of morality.Nicolas Baumard, Jean-Baptiste André & Dan Sperber - 2013 - Behavioral and Brain Sciences 36 (1):102-122.
    Our discussion of the commentaries begins, at the evolutionary level, with issues raised by our account of the evolution of morality in terms of partner-choice mutualism. We then turn to the cognitive level and the characterization and workings of fairness. In a final section, we discuss the degree to which our fairness-based approach to morality extends to norms that are commonly considered moral even though they are distinct from fairness.
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  • Topics in Population Ethics.Teruji Thomas - 2016 - Dissertation, University of Oxford
    This thesis consists of several independent papers in population ethics. I begin in Chapter 1 by critiquing some well-known 'impossibility theorems', which purport to show there can be no intuitively satisfactory population axiology. I identify axiological vagueness as a promising way to escape or at least mitigate the effects of these theorems. In particular, in Chapter 2, I argue that certain of the impossibility theorems have little more dialectical force than sorites arguments do. From these negative arguments I move to (...)
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  • Catastrophic risk.H. Orri Stefánsson - 2020 - Philosophy Compass 15 (11):1-11.
    Catastrophic risk raises questions that are not only of practical importance, but also of great philosophical interest, such as how to define catastrophe and what distinguishes catastrophic outcomes from non-catastrophic ones. Catastrophic risk also raises questions about how to rationally respond to such risks. How to rationally respond arguably partly depends on the severity of the uncertainty, for instance, whether quantitative probabilistic information is available, or whether only comparative likelihood information is available, or neither type of information. Finally, catastrophic risk (...)
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  • Exceeding Expectations: Stochastic Dominance as a General Decision Theory.Christian Tarsney - manuscript
    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 (...)
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  • A theological Newcomb's dilemma.Zsolt Ziegler - 2022 - European Journal of Science and Theology 18 (4):121-131.
    In this paper, I will argue that the agnostic decision-maker may find himself in a Newcomb-type situation concerning the doctrine of Roman Catholicism. Consequently, if the agnostic wishes to decide according to the causal decision theory, he should refrain from living the Christian life, but if he follows the evidential decision theory, he should follow the Catholic life guidance. In the argument, I have cast the role of Newcomb’s predictive machine as Divine omniscience.
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  • Analytic Narratives: What they are and how they contribute to historical explanation.Philippe Mongin - 2019 - In Claude Diebolt & Michael Haupert (eds.), Handbook of Cliometrics. Springer.
    The expression "analytic narratives" is used to refer to a range of quite recent studies that lie on the boundaries between history, political science, and economics. These studies purport to explain specific historical events by combining the usual narrative approach of historians with the analytic tools that economists and political scientists draw from formal rational choice theories. Game theory, especially of the extensive form version, is currently prominent among these tools, but there is nothing inevitable about such a technical choice. (...)
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  • Decision Theory.Katie Steele & H. Orri Stefánsson - 2012 - In Peter Adamson (ed.), Stanford Encyclopedia of Philosophy. Stanford Encyclopedia of Philosophy.
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  • Probability.Branden Fitelson, Alan Hajek & Ned Hall - 2005 - In Sahotra Sarkar & Jessica Pfeifer (eds.), The Philosophy of Science: An Encyclopedia. New York: Routledge.
    There are two central questions concerning probability. First, what are its formal features? That is a mathematical question, to which there is a standard, widely (though not universally) agreed upon answer. This answer is reviewed in the next section. Second, what sorts of things are probabilities---what, that is, is the subject matter of probability theory? This is a philosophical question, and while the mathematical theory of probability certainly bears on it, the answer must come from elsewhere. To see why, observe (...)
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  • Intention: Hyperintensional Semantics and Decision Theory.David Elohim - manuscript
    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 (...)
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  • On the Harsanyi payoff vectors and Harsanyi imputations.Jean Derks, Gerard van der Laan & Valery Vasil’ev - 2010 - Theory and Decision 68 (3):301-310.
    This article discusses the set of Harsanyi payoff vectors of a cooperative TU-game, also known as the Selectope. We reconsider some results on Harsanyi payoff vectors within a more general framework. First, an intuitive approach is used, showing that the set of Harsanyi payoff vectors is the core of an associated convex game. Next, the set of individual rational Harsanyi payoff vectors, the Harsanyi imputations in short, is considered. Existence conditions are provided, and if non-empty, we provide a description as (...)
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  • A framework linking non-living and living systems: Classification of persistence, survival and evolution transitions. [REVIEW]L. Dennis, R. W. Gray, L. H. Kauffman, J. Brender McNair & N. J. Woolf - 2009 - Foundations of Science 14 (3):217-238.
    We propose a framework for analyzing the development, operation and failure to survive of all things, living, non-living or organized groupings. This framework is a sequence of developments that improve survival capability. Framework processes range from origination of any entity/system, to the development of increased survival capability and development of life-forms and organizations that use intelligence. This work deals with a series of developmental changes that arise from the uncovering of emergent properties. The framework is intended to be general, but (...)
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  • A New Approach to Computing Using Informons and Holons: Towards a Theory of Computing Science.F. David de la Peña, Juan A. Lara, David Lizcano, María Aurora Martínez & Juan Pazos - 2020 - Foundations of Science 25 (4):1173-1201.
    The state of computing science and, particularly, software engineering and knowledge engineering is generally considered immature. The best starting point for achieving a mature engineering discipline is a solid scientific theory, and the primary reason behind the immaturity in these fields is precisely that computing science still has no such agreed upon underlying theory. As theories in other fields of science do, this paper formally establishes the fundamental elements and postulates making up a first attempt at a theory in this (...)
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  • Utility and Language Generation: The Case of Vagueness.Kees van Deemter - 2009 - Journal of Philosophical Logic 38 (6):607 - 632.
    This paper asks why information should ever be expressed vaguely, re-assessing some previously proposed answers to this question and suggesting some new ones. Particular attention is paid to the benefits that vague expressions can have in situations where agreement over the meaning of an expression cannot be taken for granted. A distinction between two different versions of the above-mentioned question is advocated. The first asks why human languages contain vague expressions, the second question asks when and why a speaker should (...)
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  • Structural Rationality and the Property of Coherence.Marc-Kevin Daoust - 2023 - Pacific Philosophical Quarterly 104 (1):170-194.
    What is structural rationality? Specifically, what is the distinctive feature of structural requirements of rationality? Some philosophers have argued, roughly, that the distinctive feature of structural requirements is coherence. But what does coherence mean, exactly? Or, at least, what do structuralists about rationality have in mind when they claim that structural rationality is coherence? This issue matters for making progress in various active debates concerning rationality. In this paper, I analyze three strategies for figuring out what coherence means in the (...)
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  • Dynamic consistency of expected utility under non-classical uncertainty.V. I. Danilov, A. Lambert-Mogiliansky & V. Vergopoulos - 2018 - Theory and Decision 84 (4):645-670.
    Quantum cognition in decision making is a recent and rapidly growing field. In this paper, we develop an expected utility theory in a context of non-classical uncertainty. We replace the classical state space with a Hilbert space which allows introducing the concept of quantum lottery. Within that framework, we formulate axioms on preferences over quantum lotteries to establish a representation theorem. We show that demanding the consistency of choice behavior conditional on new information is equivalent to the von Neumann–Lüders postulate (...)
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  • Justification of functional form assumptions in structural models: applications and testing of qualitative measurement axioms. [REVIEW]John K. Dagsvik & Stine Røine Hoff - 2011 - Theory and Decision 70 (2):215-254.
    In both theoretical and applied modeling in behavioral sciences, it is common to choose a mathematical specification of functional form and distribution of unobservables on grounds of analytic convenience without support from explicit theoretical postulates. This article discusses the issue of deriving particular qualitative hypotheses about functional form restrictions in structural models from intuitive theoretical axioms. In particular, we focus on a family of postulates known as dimensional invariance. Subsequently, we discuss how specific qualitative postulates can be reformulated so as (...)
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  • The social turn of artificial intelligence.Nello Cristianini, Teresa Scantamburlo & James Ladyman - 2021 - AI and Society (online).
    Social machines are systems formed by material and human elements interacting in a structured way. The use of digital platforms as mediators allows large numbers of humans to participate in such machines, which have interconnected AI and human components operating as a single system capable of highly sophisticated behavior. Under certain conditions, such systems can be understood as autonomous goal-driven agents. Many popular online platforms can be regarded as instances of this class of agent. We argue that autonomous social machines (...)
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  • Utilitarismo.Rafael Cejudo Córdoba - 2020 - Télos 23 (1-2):53-65.
    Reedición del artículo publicado on-line en la Enciclopedia de Filosofía de la Sociedad Española de Filosofía Analítica.
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  • The implications of learning across perceptually and strategically distinct situations.Daniel Cownden, Kimmo Eriksson & Pontus Strimling - 2016 - Synthese:1-18.
    Game theory is a formal approach to behavior that focuses on the strategic aspect of situations. The game theoretic approach originates in economics but has been embraced by scholars across disciplines, including many philosophers and biologists. This approach has an important weakness: the strategic aspect of a situation, which is its defining quality in game theory, is often not its most salient quality in human cognition. Evidence from a wide range of experiments highlights this shortcoming. Previous theoretical and empirical work (...)
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  • The implications of learning across perceptually and strategically distinct situations.Daniel Cownden, Kimmo Eriksson & Pontus Strimling - 2018 - Synthese 195 (2):511-528.
    Game theory is a formal approach to behavior that focuses on the strategic aspect of situations. The game theoretic approach originates in economics but has been embraced by scholars across disciplines, including many philosophers and biologists. This approach has an important weakness: the strategic aspect of a situation, which is its defining quality in game theory, is often not its most salient quality in human cognition. Evidence from a wide range of experiments highlights this shortcoming. Previous theoretical and empirical work (...)
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  • A Plea for Falsehoods.Juan Comesaña - 2020 - Philosophy and Phenomenological Research 100 (2):247-276.
    Philosophy and Phenomenological Research, EarlyView.
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  • The predictive mind and chess-playing: A reply to Shand.Matteo Colombo & Jan Sprenger - 2014 - Analysis 74 (4):603-608.
    In a recent Analysis piece, John Shand (2014) argues that the Predictive Theory of Mind provides a unique explanation for why one cannot play chess against oneself. On the basis of this purported explanatory power, Shand concludes that we have an extra reason to believe that PTM is correct. In this reply, we first rectify the claim that one cannot play chess against oneself; then we move on to argue that even if this were the case, Shand’s argument does not (...)
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  • Payoff dominance and the stackelberg heuristic.Andrew M. Colman & Michael Bacharach - 1997 - Theory and Decision 43 (1):1-19.
    Payoff dominance, a criterion for choosing between equilibrium points in games, is intuitively compelling, especially in matching games and other games of common interests, but it has not been justified from standard game-theoretic rationality assumptions. A psychological explanation of it is offered in terms of a form of reasoning that we call the Stackelberg heuristic in which players assume that their strategic thinking will be anticipated by their co-player(s). Two-person games are called Stackelberg-soluble if the players' strategies that maximize against (...)
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  • Making Ado Without Expectations.Mark Colyvan & Alan Hájek - 2016 - Mind 125 (499):829-857.
    This paper is a response to Paul Bartha’s ‘Making Do Without Expectations’. We provide an assessment of the strengths and limitations of two notable extensions of standard decision theory: relative expectation theory and Paul Bartha’s relative utility theory. These extensions are designed to provide intuitive answers to some well-known problems in decision theory involving gaps in expectations. We argue that both RET and RUT go some way towards providing solutions to the problems in question but neither extension solves all the (...)
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  • Idealisations in normative models.Mark Colyvan - 2013 - Synthese 190 (8):1337-1350.
    In this paper I discuss the kinds of idealisations invoked in normative theories—logic, epistemology, and decision theory. I argue that very often the so-called norms of rationality are in fact mere idealisations invoked to make life easier. As such, these idealisations are not too different from various idealisations employed in scientific modelling. Examples of the latter include: fluids are incompressible (in fluid mechanics), growth rates are constant (in population ecology), and the gravitational influence of distant bodies can be ignored (in (...)
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  • How economists got it wrong: A nuanced account.David Colander - 2011 - Critical Review: A Journal of Politics and Society 23 (1-2):1-27.
    In the wake of the financial crisis of 2008, many economists have blamed economics for having failed to warn us. Paul Krugman, for example, in a well-known New York Times Magazine article, suggests that Classical economists were blinded by the beauty of mathematics, and that Keynesian economics is the path of the future. This paper argues that the evolution of economic thinking is much more nuanced than Krugman portrays it, and that instead of embracing what has become known as Keynesian (...)
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  • Attitudes toward risk are complicated: experimental evidence for the re-individuation approach to risk-attitudes.Haim Cohen, Anat Maril, Sun Bleicher & Ittay Nissan-Rozen - 2022 - Philosophical Studies 179 (8):2553-2577.
    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 (...)
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  • Many Meanings of ‘Heuristic’.Sheldon J. Chow - 2015 - British Journal for the Philosophy of Science 66 (4):977-1016.
    A survey of contemporary philosophical and scientific literatures reveals that different authors employ the term ‘heuristic’ in ways that deviate from, and are sometimes inconsistent with, one another. Given its widespread use in philosophy and cognitive science generally, it is striking that there appears to be little concern for a clear account of what phenomena heuristics pick out or refer to. In response, I consider several accounts of ‘heuristic’, and I draw a number of distinctions between different sorts of heuristics (...)
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  • On the Ontological Turn in Economics: The Promises of Agent-Based Computational Economics.Shu-Heng Chen - 2020 - Philosophy of the Social Sciences 50 (3):238-259.
    This article argues that agent-based modeling is the methodological implication of Lawson’s championed ontological turn in economics. We single out three major properties of agent-based computational economics, namely, autonomous agents, social interactions, and the micro-macro links, which have been well accepted by the ACE community. We then argue that ACE does make a full commitment to the ontology of economics as proposed by Lawson, based on his prompted critical realism. Nevertheless, the article also points out the current limitations or constraints (...)
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