An examination of topics involved in statistical reasoning with imprecise probabilities. The book discusses assessment and elicitation, extensions, envelopes and decisions, the importance of imprecision, conditional previsions and coherent statistical models.

the symmetry of our evidential situation. If our confidence is best modeled by a standard probability function this means that we are to distribute our subjective probability or credence sharply and evenly over possibilities among which our evidence does not discriminate. Once thought to be the central principle of probabilistic reasoning by great..

From the paper's conclusion: "In conclusion, I have distinguished between two Rawlsian arguments for the SPP [strong precautionary principle] with respect to CCCs [climate change catastrophes]. Although both are persuasive, ultimately the “unbear-able strains” argument provides the most powerful categorical grounds for takingprecautionary action against CCCs. Overall, I have argued that the nature of CCCs requires us to take drastic precautions against further CC that could lead us to passthe tipping points that cause them. This is the case notwithstanding the (...) fact that weare in a state of strong uncertainty with respect to these events; indeed, our stronguncertainty with respect to them—given their nature—makes the case for action toprevent them even more persuasive, from the point of view of justice. Some peopletranslate the strong uncertainty of CCCs into weak uncertainty in order to justifytaking precautionary action using risk assessment.59My argument is complemen-tary to theirs. If divergent approaches to the uncertainty of CCCs neverthelessconverge on the PP, then we have what Cass Sunstein calls an “incompletelytheorized agreement” on a policy, that is, an agreement to which parties divided byoften deep theoretical differences can nevertheless give their assent,60which isall to the good from a political point of view. In the specific case of CC and itspossible catastrophes, the fact that such an agreement has emerged provides asliver of hope in the face of the increasingly dismal prospects for the planetuncovered by CC science as it progresses. At the level of principle, we are agreed,whatever justificatory reasons we advance. What is needed now—in the immedi-ate present—is policy to promote our principles, and the political will to enact it.". (shrink)

This book originated as lectures for a course on political philosophy that Rawls taught regularly at Harvard in the 1980s.

The maximin rule can be used as a formal version of the precautionary principle. This paper evaluates the feasibility and the intuitive plausibility of this decision rule. The major conclusions are: (1) Precaution has to be applied symmetrically. (2) Precaution is only possible when outcomes are comparable in terms of value, so that it can be determined which outcome is worst. (3) Precaution is sensitive to standards of possibility. Far-away scenarios have to be excluded, and it is difficult to find (...) a principled way to draw the line. (4) Precaution is sensitive to the framing of decision problems. Local cautiousness may add up to global incautiousness. (shrink)

“[T]he Precautionary Principle still has neither a commonly accepted definition nor a set of criteria to guide its implementation. “There is”, Freestone … cogently observes, “a certain paradox in the widespread and rapid adoption of the Precautionary Principle”: While it is applauded as a “good thing”, no one is quite sure about what it really means or how it might be..

Suppose we want to do the most good we can with a particular sum of money, but we cannot be certain of the consequences of different ways of making use of it. This article explores how our attitudes towards risk and ambiguity bear on what we should do. It shows that risk-avoidance and ambiguity-aversion can each provide good reason to divide our money between various charitable organizations rather than to give it all to the most promising one. It also shows (...) how different attitudes towards risk and ambiguity affect whether we should give to an organization which does a small amount of good for certain or to one which does a large amount of good with some small or unknown probability. (shrink)

The good of those who are worse off matters more to the overall good than the good of those who are better off does. But being worse off than one’s fellows is not itself bad; nor is inequality itself bad; nor do differences in well-being matter more when well-being is lower in an absolute sense. Instead, the good of the relatively worse-off weighs more heavily in the overall good than the good of the relatively better-off does, in virtue of the (...) fact that the former are relatively worse off. This paper articulates and defends the view just described. (shrink)

the symmetry of our evidential situation. If our confidence is best modeled by a standard probability function this means that we are to distribute our subjective probability or credence sharply and evenly over possibilities among which our evidence does not discriminate. Once thought to be the central principle of probabilistic reasoning by great..

Does rationality require imprecise credences? Many hold that it does: imprecise evidence requires correspondingly imprecise credences. I argue that this is false. The imprecise view faces the same arbitrariness worries that were meant to motivate it in the first place. It faces these worries because it incorporates a certain idealization. But doing away with this idealization effectively collapses the imprecise view into a particular kind of precise view. On this alternative, our attitudes should reflect a kind of normative uncertainty: uncertainty (...) about what to believe. This view refutes the claim that precise credences are inappropriately informative or committal. Some argue that indeterminate evidential support requires imprecise credences; but I argue that indeterminate evidential support instead places indeterminate requirements on credences, and is compatible with the claim that rational credences may always be precise. (shrink)

This essay argues that when setting climate policy, we should place more weight on worse possible consequences of a policy, while still placing some weight on better possible consequences. The argument proceeds by elucidating the range of attitudes people can take towards risk, how we must make choices for people when we don’t know their risk-attitudes, and the situation we are in with respect to climate policy and the consequences for future people. The result is an alternative to the Precautionary (...) Principle, an alternative that gives similar policy recommendations in many cases but is also sensitive to the costs of precautions. (shrink)

A natural view in distributive ethics is that everyone's interests matter, but the interests of the relatively worse off matter more than the interests of the relatively better off. I provide a new argument for this view. The argument takes as its starting point the proposal, due to Harsanyi and Rawls, that facts about distributive ethics are discerned from individual preferences in the "original position." I draw on recent work in decision theory, along with an intuitive principle about risk-taking, to (...) derive the view. (shrink)

This is a paperback edition of a major contribution to the field, first published in hard covers in 1977. The book outlines a general theory of rational behaviour consisting of individual decision theory, ethics, and game theory as its main branches. Decision theory deals with a rational pursuit of individual utility; ethics with a rational pursuit of the common interests of society; and game theory with an interaction of two or more rational individuals, each pursuing his own interests in a (...) rational manner. (shrink)

Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events and when we lack them. The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in (...) the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering. (shrink)

We subject others and are ourselves subjected to risk all the time - risk permeates life. Despite the ubiquity of risk and its imposition, philosophers and legal scholars have devoted little of their attention to the difficult questions stimulated by the pervasiveness of risk. When we impose risk upon others, what is it that we are doing? What is risking's moral significance? What moral standards govern the imposition of risk? And how should the law respond to it? This book highlights (...) these important but neglected questions and offers novel answers to them in a systematic way, constructing a normative framework of risk imposition that draws upon a wide range of insights from diverse sources within philosophy and legal theory.Oxford Legal Philosophy publishes the best new work in philosophically-oriented legal theory. It commissions and solicits monographs in all branches of the subject, including works on philosophical issues in all areas of public and private law, and in the national, transnational, and international realms; studies of the nature of law, legal institutions, and legal reasoning; treatments of problems in political morality as they bear on law; and explorations in the nature and development of legal philosophy itself. The series represents diverse traditions of thought but always with an emphasis on rigour and originality. It sets the standard in contemporary jurisprudence. (shrink)

Scholars in philosophy, law, economics and other fields have widely debated how science, environmental precaution, and economic interests should be balanced in urgent contemporary problems, such as climate change. One controversial focus of these discussions is the precautionary principle, according to which scientific uncertainty should not be a reason for delay in the face of serious threats to the environment or health. While the precautionary principle has been very influential, no generally accepted definition of it exists and critics charge that (...) it is incoherent or hopelessly vague. This book presents and defends an interpretation of the precautionary principle from the perspective of philosophy of science, looking particularly at how it connects to decisions, scientific procedures, and evidence. Through careful analysis of numerous case studies, it shows how this interpretation leads to important insights on scientific uncertainty, intergenerational justice, and the relationship between values and policy-relevant science. (shrink)

Esteemed philosopher John Broome avoids the familiar ideological stances on climate change policy and examines the issue through an invigorating new lens. As he considers the moral dimensions of climate change, he reasons clearly through what universal standards of goodness and justice require of us, both as citizens and as governments. His conclusions—some as demanding as they are logical—will challenge and enlighten. Eco-conscious readers may be surprised to hear they have a duty to offset all their carbon emissions, while policy (...) makers will grapple with Broome’s analysis of what if anything is owed to future generations. From the science of greenhouse gases to the intricate logic of cap and trade, Broome reveals how the principles that underlie everyday decision making also provide simple and effective ideas for confronting climate change. Climate Matters is an essential contribution to one of the paramount issues of our time. (shrink)

Lara Buchak sets out a new account of rational decision-making in the face of risk. She argues that the orthodox view is too narrow, and suggests an alternative, more permissive theory: one that allows individuals to pay attention to the worst-case or best-case scenario, and vindicates the ordinary decision-maker.

Many have claimed that unspecific evidence sometimes demands unsharp, indeterminate, imprecise, vague, or interval-valued probabilities. Against this, a variant of the diachronic Dutch Book argument shows that perfectly rational agents always have perfectly sharp probabilities.

What is the relationship between fear, danger, and the law? Cass Sunstein attacks the increasingly influential Precautionary Principle - the idea that regulators should take steps to protect against potential harms, even if causal chains are uncertain and even if we do not know that harms are likely to come to fruition. Focusing on such problems as global warming, terrorism, DDT, and genetic engineering, Professor Sunstein argues that the Precautionary Principle is incoherent. Risks exist on all sides of social situations, (...) and precautionary steps create dangers of their own. Diverse cultures focus on very different risks, often because social influences and peer pressures accentuate some fears and reduce others. Instead of adopting the Precautionary Principle, Professor Sunstein argues for three steps: a narrow Anti-Catastrophe Principle, designed for the most serious risks; close attention to costs and benefits; and an approach called 'libertarian paternalism', designed to respect freedom of choice while also moving people in directions that will make their lives go better. He also shows how free societies can protect liberty amidst fears about terrorism and national security. Laws of Fear represents a major statement from one of the most influential political and legal theorists writing today. (shrink)

This book examines the threat that climate change poses to the projects of poverty eradication, sustainable development, and biodiversity preservation. It offers a careful discussion of the values that support these projects and a critical evaluation of the normative bases of climate change policy. This book regards climate change policy as a public problem that normative philosophy can shed light on. It assumes that the development of policy should be based on values regarding what is important to respect, preserve, and (...) protect. What sort of climate change policy do we owe the poor of the world who are particularly vulnerable to climate change? Why should our generation take on the burden of mitigating climate change that is caused, in no small part, by emissions from people now dead? What value is lost when natural species go extinct, as they may well do en masse because of climate change? This book presents a broad and inclusive discussion of climate change policy, relevant to those with interests in public policy, development studies, environmental studies, political theory, and moral and political philosophy. (shrink)

"The best book available for non-mathematicians." — Contemporary Psychology. Superb nontechnical introduction to game theory and related disciplines, primarily as applied to the social sciences. Clear, comprehensive coverage of utility theory, 2-person zero-sum games, 2-person non-zero-sum games, n-person games, individual and group decision-making, much more. Appendixes. Bibliography. Graphs and figures.