Challenging, with several powerful arguments, some of our deepest beliefs about rationality, morality, and personal identity, Parfit claims that we have a false view about our own nature. It is often rational to act against our own best interersts, he argues, and most of us have moral views that are self-defeating. We often act wrongly, although we know there will be no one with serious grounds for complaint, and when we consider future generations it is very hard to avoid conclusions (...) that most of us will find very disturbing. (shrink)

Previous edition, 1st, published in 1971.

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.

An argument against the bias towards the near; how a defence of temporal neutrality is not a defence of S; an appeal to inconsistency; why we should reject S and accept CP.

Should you care less about your distant future? What about events in your life that have already happened? How should the passage of time affect your planning and assessment of your life? Most of us think it is irrational to ignore the future but harmless to dismiss the past. But this book argues that rationality requires temporal neutrality.

A scholarly edition of a work by Adam Smith. The edition presents an authoritative text, together with an introduction, commentary notes, and scholarly apparatus.

This paper challenges the conventional wisdom dominating the social sciences and philosophy regarding temporal discounting, the practice of discounting the value of future utility when making decisions. Although there are sharp disagreements about temporal discounting, a kind of standard model has arisen, one that begins with a normative standard about how we should make intertemporal comparisons of utility. This standard demands that in so far as one is rational one discounts utilities at future times with an exponential discount function. Tracing (...) the justification for this standard through economics, philosophy and psychology, I’ll make what I believe is the best case one can for it, showing how a non-arbitrariness assumption and a dominance argument together imply that discounting ought to be exponential. Ultimately, however, I don’t find the case compelling. Non-exponential temporal discounting is often rational. If this is correct, Instead of trying to ‘fix’ non-exponential discounting because it is irrational and associated with negative life outcomes, we might instead focus attention on why the conditions obtain that make such discounting rational. (shrink)

In general, the technical apparatus of decision theory is well developed. It has loads of theorems, and they can be proved from axioms. Many of the theorems are interesting, and useful both from a philosophical and a practical perspective. But decision theory does not have a well agreed upon interpretation. Its technical terms, in particular, ‘utility’ and ‘preference’ do not have a single clear and uncontroversial meaning. How to interpret these terms depends, of course, on what purposes in pursuit of (...) which one wants to put decision theory to use. One might want to use it as a model of economic decision-making, in order to predict the behavior of corporations or of the stock market. In that case, it might be useful to interpret the technical term ‘utility’ as meaning money profit. Decision theory would then be an empirical theory. I want to look into the question of what ‘utility’ could mean, if we want decision theory to function as a theory of practical rationality. I want to know whether it makes good sense to think of practical rationality as fully or even partly accounted for by decision theory. I shall lay my cards on the table: I hope it does make good sense to think of it that way. For, I think, if Humeans are right about practical rationality, then decision theory must play a very large part in their account. And I think Humeanism has very strong attractions. (shrink)

Pure time preference is a preference for something to come at one point in time rather than another merely because of when it occurs in time. In opposition to Sidgwick, Ramsey, Rawls, and Parfit we argue that it is not always irrational to be guided by pure time preferences. We argue that even if the mere difference of location in time is not a rational ground for a preference, time may nevertheless be a normatively neutral ground for a preference, and (...) this makes it plausible to claim that the preference is rationally permitted. (shrink)

In this chapter on time‐the emotional asymmetry, the author addresses two questions concerning future‐bias. The first is with respect to the sorts of things are people future‐biased. Do people want all things that they regard as bad to be in the past, or just some of them? Second, are people justified in being future‐biased? The second question has received a good deal of attention from philosophers. The author aims to survey different answers to the question, and to give a sense (...) of how things presently lie. A section presents some poor arguments for future‐bias, including discussions on the shrinking block theory of time. It is also said that, even if four‐dimensionalism is false, a charge of arbitrariness can be leveled at future‐bias. Finally, the chapter presents a discussion on some incoherence arguments against future‐bias. (shrink)

Exponential discounted utility theory provides the normative standard for future discounting as it is employed throughout the social sciences. Tracing the justification for this standard through economics, philosophy and psychology, I’ll make what I believe is the best case one can for it, showing how a non-arbitrariness assumption and a dominance argument together imply that discounting ought to be exponential. Ultimately, however, I don’t find the case compelling, as I believe it is deeply flawed. Non-exponential temporal discounting is often rational–indeed, (...) the paragon of rationality. If this is correct, it’s an important point when considering policy interventions. Instead of trying to “fix” non-exponetial discounting because it is irrational and associated with negative life outcomes, we might instead focus attention on why the conditions obtain that make such discounting rational. (shrink)

Philosophical thinking about time is characterised by tensions between competing conceptions. Different sources of evidence yield different conclusions about it. Common sense suggests there is an objective present, and that time is dynamic. Science recognises neither feature. This Element examines McTaggart's argument for the unreality of time, which epitomises this tension, showing how it gave rise to the A-theory/B-theory debate. Each theory is in tension with either ordinary or scientific thinking, so must accommodate the competing conception. Reconciling the A-theory with (...) science does not look promising. Prospects look better for the B-theory's attempt to accommodate ordinary thinking about time. (shrink)

A new edition of Adam Smith's Theory of Moral Sentiments, an important text in the history of moral and political thought.