One of Hume's most well-known works and a masterpiece of philosophy, A Treatise of Human Nature is indubitably worth taking the time to read.

This study uses techniques from economics to illuminate fundamental questions in ethics, particularly in the foundations of utilitarianism. Topics considered include the nature of teleological ethics, the foundations of decision theory, the value of equality and the moral significance of a person's continuing identity through time.

A Treatise of Human Nature, David Hume's comprehensive attempt to base philosophy on a new, observationally grounded study of human nature, is one of the most important texts in Western philosophy. It is also the focal point of current attempts to understand 18th-century western philosophy. The Treatise addresses many of the most fundamental philosophical issues: causation, existence, freedom and necessity, and morality. The volume also includes Humes own abstract of the Treatise, a substantial introduction, extensive annotations, a glossary, a comprehensive (...) index, and suggestions for further reading. (shrink)

Several authors, including Thomas Nagel and David Gauthier, have defended the view that reasons of self-interest (prudential reasons) are rationally binding. That is, there is always a reason, bearing on the rational advisability, based on one's self-interest and, as a result, a person may act irrationally by knowingly acting against such reasons regardless of the person's desires or values. Both Nagel and Gauthier argue from the rationally mandatory nature of prudential reasons to the conclusion that moral reasons can be rationally (...) mandatory, challenging the neo-Humean position that practical reasons that bear on an agent's rationality are essentially grounded on the agent's subjective, contingent, conative states. I argue, pace Nagel and Gauthier, that prudential reasons are not rationally mandatory--that the rational requirement to act in one's own interest, when it exists, is, as the neo-Humean insists, grounded on one's subjective, contingent, conative states. Prudential reasons are not reasons for every (conceivable) agent--not in the sense that bears on the rational advisability of action. (shrink)

Classic analysis of the subject and the development of personal probability; one of the greatest controversies in modern statistcal thought.

Many believe that the rational evaluation of actions depends on the rational evaluation of even basic desires. Hume, though, viewed desires as "original existences" which cannot be contrary to either truth or reason. Contemporary critics of Hume, including Norman, Brandt and Parfit, have sought a basis for the rational evaluation of desires that would deny some basic desires reason-giving force. I side with Hume against these modern critics. Hume's concept of rational evaluation is admittedly too narrow; even basic desires are, (...) despite their nonrepresentational nature, subject to rational evaluation. But this evaluation is not relevant to their tendency to generate reasons for action, and does not undermine the spirit of the Humean view of rational action. (shrink)

Personalistic Bayesian decision theory provides a simple, roomy framework for hypothesis-testing and choice under uncertainty. Call the theory Bayesianism, for short. It’s the line that L. J. Savage made respectable among statisticians and economists. It’s the same thing as the expected utility hypothesis, in this form: preference does or should go by personal probabilistic expectation of utility. The question of whether to say “does” or “should” is the question of whether the theory is meant to be normative or descriptive.

"[This book] proposes new foundations for the Bayesian principle of rational action, and goes on to develop a new logic of desirability and probabtility."—Frederic Schick, _Journal of Philosophy_.

Throughout, the book combines daring speculations with detailed investigations to portray the nature and status of rationality and the essential role that...

Expected-utility theory has been a popular and influential theory in philosophy, law, and the social sciences. While its original developers, von Neumann and Morgenstern, presented it as a purely predictive theory useful to the practitioners of economic science, many subsequent theorists, particularly those outside of economics, have come to endorse EU theory as providing us with a representation of reason. But precisely in what sense does EU theory portray reason? And does it do so successfully? There are two strikingly different (...) answers to these questions in the literature. On the one hand, there is the view of people such as David Gauthier that EU theory is an implementation of the idea that reason's only role is instrumental. On the other hand, there is the view suggested by Leonard Savage that the theory is a “formal” and noninstrumental characterization of our reasoning process. (shrink)