Piccione and Rubinstein present and analyse the sequential decision problem of an “absentminded driver”. The driver's absentmindedness leads him to time-inconsistent strategy evaluations. His original evaluation gets replaced by a new one under impact of the information that the circumstances have changed, notwithstanding the fact that this change in circumstances has been expected by him all along. The time inconsistency in strategy evaluation suggests that such an agent might have reason to renege on his adopted strategy. As we shall see, (...) however, this danger is only apparent. There is no serious problem of dynamic inconsistency in this case. My diagnosis of the case under consideration is in many respects similar to the one provided by Aumann, Hart and Perry, but the analysis leading to this diagnosis is not quite the same. (shrink)

With this volume, Werner Pluhar completes his work on Kant's three Critiques, an accomplishment unique among English language translators of Kant. At once accurate, fluent, and accessible, Pluhar's rendition of the Critique of Practical Reason meets the standards set in his widely respected translations of the Critique of Judgement (1987) and the Critique of Pure Reason (1996).

This major work challenges some widely held positions in epistemology - those of Peirce and Popper on the one hand and those of Quine and Kuhn on the other.

We argue that in extensive decision problems (extensive games with a single player) with imperfect recall care must be taken in interpreting information sets and strategies. Alternative interpretations allow for different kinds of analysis. We address the following issues: 1. randomization at information sets; 2. consistent beliefs; 3. time consistency of optimal plans; 4. the multiselves approach to decision making. We illustrate our discussion through an example that we call the ‘‘paradox of the absentminded driver.’’ Journal of Economic Literature Classification (...) Numbers: C7, D0. 1997 Academic Press. (shrink)

The paper argues that the standard decision theoretic account of strategies and their rationality or optimality is much too narrow, that strategies should rather condition future action to future decision situations (a point of view already developed in my Grundlagen der Entscheidungstheorie, sect. 4.4), that practical deliberation must therefore essentially rely on a relation of superiority and inferiority between possible future decision situations, that all this allows to substantially broaden the theory of practical rationality, that a long list of points (...) attended to in the literature can be subsumed under the broadened perspective (including a novel view on the iterated prisoner's dilemma and on iterated Newcomb's problem, which, however, is revised in Spohn (2003) "Dependency Equilibria and the Causal Structure of Decision and Game Situation"), and that the task to complete and systematize this list indeed forms a fruitful research programme. (shrink)

Isaac Levi is one of the preeminent philosophers in the areas of pragmatic rationality and epistemology. This collection of essays constitutes an important presentation of his original and influential ideas about rational choice and belief. A wide range of topics is covered, including consequentialism and sequential choice, consensus, voluntarism of belief, and the tolerance of the opinions of others. The essays elaborate on the idea that principles of rationality are norms that regulate the coherence of our beliefs and values with (...) our rational choices. The norms impose minimal constraints on deliberation and inquiry, but they also impose demands well beyond the capacities of deliberating agents. This major collection will be eagerly sought out by a wide range of philosophers in epistemology, logic, and philosophy of science, as well as economists, decision theorists, and statisticians. (shrink)

When causal decision theory was created in the 1970s, access to Howard Sobel’s contribution was available only in a narrowly circulated mimeographed manuscript. After some time, he allowed his ideas to appear in the form of articles. Here we finally have a book length exposition on Sobel’s causal Bayesian point of view consisting of collected, revised, and amplified papers spanning a period of twenty years.