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  1. Risk and Rationality.Lara Buchak - 2013 - Oxford, GB: Oxford University Press.
    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.
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  • In Defense of Fanaticism.Hayden Wilkinson - 2022 - Ethics 132 (2):445-477.
    Which is better: a guarantee of a modest amount of moral value, or a tiny probability of arbitrarily large value? To prefer the latter seems fanatical. But, as I argue, avoiding such fanaticism brings severe problems. To do so, we must decline intuitively attractive trade-offs; rank structurally identical pairs of lotteries inconsistently, or else admit absurd sensitivity to tiny probability differences; have rankings depend on remote, unaffected events ; and often neglect to rank lotteries as we already know we would (...)
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  • Risk aversion and the long run.Johanna Thoma - 2018 - Ethics 129 (2):230-253.
    This article argues that Lara Buchak’s risk-weighted expected utility (REU) theory fails to offer a true alternative to expected utility theory. Under commonly held assumptions about dynamic choice and the framing of decision problems, rational agents are guided by their attitudes to temporally extended courses of action. If so, REU theory makes approximately the same recommendations as expected utility theory. Being more permissive about dynamic choice or framing, however, undermines the theory’s claim to capturing a steady choice disposition in the (...)
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  • Normative theories of rational choice: expected utility.Rachael Briggs - 2017 - The Stanford Encyclopedia of Philosophy.
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  • Ignore risk; Maximize expected moral value.Michael Zhao - 2021 - Noûs 57 (1):144-161.
    Many philosophers assume that, when making moral decisions under uncertainty, we should choose the option that has the greatest expected moral value, regardless of how risky it is. But their arguments for maximizing expected moral value do not support it over rival, risk-averse approaches. In this paper, I present a novel argument for maximizing expected value: when we think about larger series of decisions that each decision is a part of, all but the most risk-averse agents would prefer that we (...)
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  • Infinite aggregation.Hayden Wilkinson - 2021 - Dissertation, Australian National University
    Suppose you found that the universe around you was infinite—that it extended infinitely far in space or in time and, as a result, contained infinitely many persons. How should this change your moral decision-making? Radically, it seems, according to some philosophers. According to various recent arguments, any moral theory that is ’minimally aggregative’ will deliver absurd judgements in practice if the universe is (even remotely likely to be) infinite. This seems like sound justification for abandoning any such theory. -/- My (...)
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  • Procrastinate Revisited.Frank Jackson - 2014 - Pacific Philosophical Quarterly 95 (4):634-647.
    How is what an agent ought to do at time t related to what they ought to do over a period of time that includes t? I revisit an example that sheds light on this question, taking account of issues to do with the agent's intentions and the distinction between subjective and objective obligation.
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  • Risky business.Alan Hájek - 2021 - Philosophical Perspectives 35 (1):189-205.
    Philosophical Perspectives, Volume 35, Issue 1, Page 189-205, December 2021.
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  • Revisiting Risk and Rationality: a reply to Pettigrew and Briggs.Lara Buchak - 2015 - Canadian Journal of Philosophy 45 (5):841-862.
    I have claimed that risk-weighted expected utility maximizers are rational, and that their preferences cannot be captured by expected utility theory. Richard Pettigrew and Rachael Briggs have recently challenged these claims. Both authors argue that only EU-maximizers are rational. In addition, Pettigrew argues that the preferences of REU-maximizers can indeed be captured by EU theory, and Briggs argues that REU-maximizers lose a valuable tool for simplifying their decision problems. I hold that their arguments do not succeed and that my original (...)
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  • (1 other version)The Tragedy of the Risk Averse.H. Orri Stefánsson - 2023 - Erkenntnis 88 (1):351-364.
    Those who are risk averse with respect to money, and thus turn down some gambles with positive monetary expectations, are nevertheless often willing to accept bundles involving multiple such gambles. Therefore, it might seem that such people should become more willing to accept a risky but favourable gamble if they put it in context with the collection of gambles that they predict they will be faced with in the future. However, it turns out that when a risk averse person adopts (...)
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  • The tragedy of the risk averse.Orri Stef\’Ansson - forthcoming - Erkenntnis:1–14.
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  • Risk and uncertainty: a fallacy of large numbers.P. Samuelson - 1963 - Scientia 57 (98):108.
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  • (1 other version)The Tragedy of the Risk Averse.H. Orri Stefánsson - 2020 - Erkenntnis 88 (1):351-364.
    Those who are risk averse with respect to money, and thus turn down some gambles with positive monetary expectations, are nevertheless often willing to accept bundles involving multiple such gambles. Therefore, it might seem that such people should become more willing to accept a risky but favourable gamble if they put it in context with the collection of gambles that they predict they will be faced with in the future. However, it turns out that when a risk averse person adopts (...)
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