A new defence of probability discounting

In Adrian Walsh, S├Ąde Hormio & Duncan Purves (eds.), The Ethical Underpinnings of Climate Economics. Oxford: Routledge. pp. 87-102 (2017)
Download Edit this record How to cite View on PhilPapers
Abstract
When probability discounting (or probability weighting), one multiplies the value of an outcome by one's subjective probability that the outcome will obtain in decision-making. The broader import of defending probability discounting is to help justify cost-benefit analyses in contexts such as climate change. This chapter defends probability discounting under risk both negatively, from arguments by Simon Caney (2008, 2009), and with a new positive argument. First, in responding to Caney, I argue that small costs and benefits need to be evaluated, and that viewing practices at the social level is too coarse-grained. Second, I argue for probability discounting, using a distinction between causal responsibility and moral responsibility. Moral responsibility can be cashed out in terms of blameworthiness and praiseworthiness, while causal responsibility obtains in full for any effect which is part of a causal chain linked to one's act. With this distinction in hand, unlike causal responsibility, moral responsibility can be seen as coming in degrees. My argument is, given that we can limit our deliberation and consideration to that which we are morally responsible for and that our moral responsibility for outcomes is limited by our subjective probabilities, our subjective probabilities can ground probability discounting.
PhilPapers/Archive ID
MINAND
Revision history
Archival date: 2017-10-17
View upload history
References found in this work BETA

No references found.

Add more references

Citations of this work BETA

Add more citations

Added to PP index
2017-10-17

Total views
329 ( #13,605 of 50,155 )

Recent downloads (6 months)
51 ( #11,504 of 50,155 )

How can I increase my downloads?

Downloads since first upload
This graph includes both downloads from PhilArchive and clicks to external links.