A sketch of the history of the opposition between propositional and practical knowledge is followed by a brief account of the relevant ideas of Merleau-Ponty, Polanyi, and H. and S. Dreyfus (on expertise and artificial intelligence). The paper concludes with a discussion of the work of Ryle on the notion of a ‘discipline’, drawing implications for a theory of traditions.

Philosophers now seem to agree that frequentism is an untenable strategy to explain the meaning of probabilities. Nevertheless, I want to revive frequentism, and I will do so by grounding probabilities on typicality in the same way as the thermodynamic arrow of time can be grounded on typicality within statistical mechanics. This account, which I will call typicality frequentism, will evade the major criticisms raised against previous forms of frequentism. In this theory, probabilities arise within a physical theory from statistical (...) behavior of almost all initial conditions. The main advantage of typicality frequentism is that it shows which kinds of probabilities (that also have empirical relevance) can be derived from physics. Although one cannot recover all probability talk in this account, this is rather a virtue than a vice, because it shows which types of probabilities can in fact arise from physics and which types need to be explained in different ways, thereby opening the path for a pluralistic account of probabilities. (shrink)

It is generally argued that if the wave-function in the de Broglie–Bohm theory is a physical field, it must be a field in configuration space. Nevertheless, it is possible to interpret the wave-function as a multi-field in three-dimensional space. This approach hasn’t received the attention yet it really deserves. The aim of this paper is threefold: first, we show that the wave-function is naturally and straightforwardly construed as a multi-field; second, we show why this interpretation is superior to other interpretations (...) discussed in the literature; third, we clarify common misconceptions. (shrink)

This new anthology will serve as an ideal introduction to phenomenology for analytic philosophers, both as a text and as the single most useful source book on Husserl for cognitive scientists.

I want to combine two hitherto largely independent research projects, scientific understanding and mechanistic explanations. Understanding is not only achieved by answering why-questions, that is, by providing scientific explanations, but also by answering what-questions, that is, by providing what I call scientific descriptions. Based on this distinction, I develop three forms of understanding: understanding-what, understanding-why, and understanding-how. I argue that understanding-how is a particularly deep form of understanding, because it is based on mechanistic explanations, which answer why something happens in (...) virtue of what it is made of. I apply the three forms of understanding to two case studies: first, to the historical development of thermodynamics and, second, to the differences between the Clausius and the Boltzmann entropy in explaining thermodynamic processes. (shrink)

The ontological models framework distinguishes ψ-ontic from ψ-epistemic wave- functions. It is, in general, quite straightforward to categorize the wave-function of a certain quantum theory. Nevertheless, there has been a debate about the ontological status of the wave-function in the statistical interpretation of quantum mechanics: is it ψ-epistemic and incomplete or ψ-ontic and complete? I will argue that the wave- function in this interpretation is best regarded as ψ-ontic and incomplete.

What does it take to understand a phenomenon ideally, or to the highest conceivable extent? In this paper, we answer this question by arguing for five necessary conditions for ideal understanding: (i) representational accuracy, (ii) intelligibility, (iii) truth, (iv) reasonable endorsement, and (v) fitting. Even if one disagrees that there is some form of ideal understanding, these five conditions can be regarded as sufficient conditions for a particularly deep level of understanding. We then argue that grasping, novel predictions, and transparency (...) are not reasonable conditions for ideal understanding. (shrink)

This is the BJPS Short Read version of the article When Fields Are Not Degrees of Freedom. In our article, Vera Hartenstein and I show that the world of classical electromagnetism might differ radically from the one we see in physics textbooks and experience day-to-day. First, light may not exist; second, the laws of electromagnetism are either incomplete or completely different; and, third, the mathematics needed to make exact calculations with these novel laws is in early development and not part (...) of the general mathematics curriculum at colleges and universities. (shrink)

This paper investigates the historical origin and ancestors of typicality, which is now a central concept in Boltzmannian Statistical Mechanics and Bohmian Mechanics. Although Ludwig Boltzmann did not use the word typicality, its main idea, namely, that something happens almost always or is valid for almost all cases, plays a crucial role for his explanation of how thermodynamic systems approach equilibrium. At the beginning of the 20th century, the focus on almost always or almost everywhere was fruitful for developing measure (...) theory and probability theory. It was apparently Hugh Everett III who first mentioned typicality in physics in 1957 while searching for a justification of the Born rule in his interpretation of quantum mechanics. The historically closest concept before these developments is moral certainty, which was invented by the medieval French theologian Jean Gerson, and it became a standard concept at least until the Age of Enlightenment, when Jakob Bernoulli proved the Law of Large numbers. (shrink)

We argue that the asymmetry between diverging and converging electromagnetic waves is just one of many asymmetries in observed phenomena that can be explained by a past hypothesis and statistical postulate (together assigning probabilities to different states of matter and field in the early universe). The arrow of electromagnetic radiation is thus absorbed into a broader account of temporal asymmetries in nature. We give an accessible introduction to the problem of explaining the arrow of radiation and compare our preferred strategy (...) for explaining the arrow to three alternatives: (i) modifying the laws of electromagnetism by adding a radiation condition requiring that electromagnetic fields always be attributable to past sources, (ii) removing electromagnetic fields and having particles interact directly with one another through retarded action-at-a-distance, (iii) adopting the Wheeler-Feynman approach and having particles interact directly through half-retarded half-advanced action-at-a-distance. In addition to the asymmetry between diverging and converging waves, we also consider the related asymmetry of radiation reaction. (shrink)

I analyze the meaning of mass in Newtonian mechanics. First, I explain the notion of primitive ontology, which was originally introduced in the philosophy of quantum mechanics. Then I examine the two common interpretations of mass: mass as a measure of the quantity of matter and mass as a dynamical property. I claim that the former is ill-defined, and the latter is only plausible with respect to a metaphysical interpretation of laws of nature. I explore the following options for the (...) status of laws: Humeanism, primitivism about laws, dispositionalism, and ontic structural realism. (shrink)

Philosophy is sometimes perceived as an abstract and nerdy discipline dealing with problems of its own creation in an isolated chamber of the Ivory Tower. And there is some truth to this view. But philosophy can help us deal with common problems, such as the disagreements we have in our everyday lives.

The paper points out that the modern formulation of Bohm’s quantum theory known as Bohmian mechanics is committed only to particles’ positions and a law of motion. We explain how this view can avoid the open questions that the traditional view faces according to which Bohm’s theory is committed to a wave-function that is a physical entity over and above the particles, although it is defined on configuration space instead of three-dimensional space. We then enquire into the status of the (...) law of motion, elaborating on how the main philosophical options to ground a law of motion, namely Humeanism and dispositionalism, can be applied to Bohmian mechanics. In conclusion, we sketch out how these options apply to primitive ontology approaches to quantum mechanics in general. (shrink)

We show that in the Maxwell–Lorentz theory of classical electrodynamics most initial values for fields and particles lead to an ill-defined dynamics, as they exhibit singularities or discontinuities along light-cones. This phenomenon suggests that the Maxwell equations and the Lorentz force law ought rather to be read as a system of delay differential equations, that is, differential equations that relate a function and its derivatives at different times. This mathematical reformulation, however, leads to physical and philosophical consequences for the ontological (...) status of the electromagnetic field. In particular, fields cannot be taken as independent degrees of freedom, which suggests that one should not add them to the ontology. (shrink)

There is not much of a consensus on almost anything about quantum mechanics. I take it, however, that the minimum consensus is that "although quantum mechanics is empirically successful, quantum mechanics is hard to understand." Quantum mechanics, in the way it is presented in most textbooks, does indeed not provide a clear picture of reality that would make it a theory to be understood. In her new book, "The World in the Wave Function: A Metaphysics for Quantum Physics," Alyssa Ney (...) tries to make this blurry picture of reality more precise, even if this picture will turn out to be heterodox and unfamiliar. (shrink)

We discuss the no-go theorem of Frauchiger and Renner based on an "extended Wigner's friend" thought experiment which is supposed to show that any single-world interpretation of quantum mechanics leads to inconsistent predictions if it is applicable on all scales. We show that no such inconsistency occurs if one considers a complete description of the physical situation. We then discuss implications of the thought experiment that have not been clearly addressed in the original paper, including a tension between relativity and (...) nonlocal effects predicted by quantum mechanics. Our discussion applies in particular to Bohmian mechanics. (shrink)

the purpose of this paper is to o er a logico‐philosophical critical overview of the theory of multiple realities (tWr). the paper is divided into three sections. In the rst section I present a brief history of the development of some ideas, which combined together form the conceptual amework of the theory in question, whose main thesis is that there is more than one reality. In the second part I present (and try to address) some interpretations of tWr, which can (...) be described as: ontological; epistemological; esthetical; logical ad mixed interpretations. When do‐ ing so, a special emphasis is laid on the presentation of an explication of tWr based on theory of models, an explication authored by teresa Kostyrko. this explication rests on a conditional recognition of the particular ‘realities’ of Chwistek’s theory as proper models (i.e. those, which ful ll the condition of the identity of meaning of theory’s fundamental notions) of the theories of reality, with the provision that such models are indeed constructible. In the last section of my paper I propose a preliminary appraisal of the tWr as well as a way to reengineer this theory in order to avoid some of its di culties. By appealing to Kostyrko’s idea on one hand and the spirit Quinean ontological relativism on the other, I wish to argue as follows: ‘reality’ is the name of the set comprising all meanings of the term ‘reality’; under particular conditions these meanings can be arranged in a theory, which posseses a proper model (scienti c discourse, some forms of the common talk); model proper designate by de nition classes of objects, which we regard as existent on the grounds of a given theory. the above set of theses forms the core of a concept, which I propose to call the ‘manifold reality’ in order to di erentiate it om tWr, the development of which theory it is, as well as its modi cation towards a new kind of ontology. (shrink)

Both Philip and Andrew are philosophy students whose interests converge around the philosophy of technology broadly understood. Philip's interest is specifically aimed toward the ethics of Transhumanism and depictions of Transhumanism in works of fiction. On the other hand, Andrew finds himself more focused on religious behavior in the technological world. While the two perspectives might not seem that close, there is certain to be an overlap in Andrew and Philip's shared understanding of how technological phenomena play a crucial role (...) concerning religion and society. (shrink)

The Generalized Poisson Distribution (GPD) adds an extra parameter to the usual Poisson distribution. This parameter induces a loss of homogeneity in the stochastic processes modeled by the distribution. Thus, the generalized distribution becomes an useful model for counting processes where the occurrence of events is not homogeneous. This model creates the need for an inferential procedure, to test for the value of this extra parameter. The FBST (Full Bayesian Significance Test) is a Bayesian hypotheses test procedure, capable of providing (...) an evidence measure on sharp hypotheses (where the dimension of the parametric space under the null hypotheses is smaller than that of the full parametric space). The goal of this work is study the empirical properties of the FBST for testing the nullity of extra parameter of the generalized Poisson distribution. Numerical experiments show a better performance of FBST with respect to the classical likelihood ratio test, and suggest that FBST is an efficient and robust tool for this application. (shrink)

This essay rethinks the concept of biocommunism by rearticulating it via a sensitivity towards individual suffering rather than the human species as a whole. The essay is divided into three parts. The first part outlines Marx’s concept of alienation because of the central role that the fourth kind of alienation plays in Dyer-Witheford’s original conception of biocommunism. The second part briefly elaborates on the discussion of species in the Kyoto School. These two parts lead to the third part, where a (...) novel interpretation of biocommunism is outlined, focusing on individual suffering rather than the human species. (shrink)

In their paper "How Fundamental Physics represents Causality", Andreas Bartels and Daniel Wohlfarth maintain that there is place for causality in General Relativity. Their argument contains two steps: First they show that there are time-asymmetric models in General Relativity, then they claim to derive that two events are causally connected if and only if there is a time-asymmetric energy flow from one event to the other. In our comment we first give a short summary of their paper followed by a (...) section introducing and pondering different conceptions of causation since Bartels and Wohlfarth don’t explicitly declare which notion of causation they build on in the paper. In order to analyze their argument in detail we formalize their crucial step in logical terms. This helps to pose the question whether their proposed derivation is not just a definition in a more precise way. (shrink)

This classic collection of essays, first published in 1968, represents H.L.A. Hart's landmark contribution to the philosophy of criminal responsibility and punishment. Unavailable for ten years, this new edition reproduces the original text, adding a new critical introduction by John Gardner, a leading contemporary criminal law theorist.

What is the meaning of the wave-function? After almost 100 years since the inception of quantum mechanics, is it still possible to say something new on what the wave-function is supposed to be? Yes, it is. And Shan Gao managed to do so with his newest book. Here we learn what contemporary physicists and philosophers think about the wave-function; we learn about the de Broglie-Bohm theory, the GRW collapse theory, the gravity-induced collapse theory by Roger Penrose, and the famous PBR (...) theorem; we learn about Schrödinger's original idea that the wave-function represents charge densities; we learn about the notorious measurement problem and its consequences; we learn about the challenges to find a consistent relativistic quantum theory; and we learn, of course, Gao's own suggestion for the status of the wave-function. Above all, Gao shows us the significance of protective measurements for our search of the ontology of quantum mechanics. Still not widely recognized among physicists and philosophers, protective measurements let us look deeper into quantum mechanics. For Gao this is the main tool to settle the issue on the ontological status of the wave-function: the wave-function is real because one can measure it. (shrink)

This essay delves into the multifaceted concept of determin-ism within the domain of physics, scrutinizing prevalent definitions and classifications. Navigating through the nuances of deterministic behavior, we distinguish it from colloquial interpretations of "non-deterministic." By examining determin-ism through the lenses of natural laws, weak determinism, and strong determinism, we unravel the intricate relationship between predictability and the underlying mathematical structures of the universe. Classical mechanics serves as an exemplar of deterministic principles, while statistical mechanics introduces complexities that challenge simplistic classifications. (...) The interplay between ignorance and non-determinism emerges as a pivotal consideration, urging a nuanced understanding of deter-ministic frameworks amidst intricate systems. In essence, this exploration seeks to reconcile the richness of deterministic behavior with the complexities inherent in the natural world. (shrink)

ABSTRACT Offsetting is a very ineffective way to do good. Offsetting your lifetime emissions may increase aggregated life expectancy by at most seven years, while giving the amount it costs to offset your lifetime emissions to a malaria charity saves in expectation the life of at least one child. Is there any moral reason to offset rather than giving to some charity that does good so much more effectively? There might be such a reason if your offsetting compensated or somehow (...) benefitted the victims of your emission, since that could mean that you would satisfy the duty not to harm others by emitting and offsetting. But that is typically not true. If your emission harms some person and your offsetting benefits some person, then these are most likely different people. Hence, I conclude, we have a stronger reason to give to effective charities than we have to offset our emissions. (shrink)

According to the orthodox treatment of risk preferences in decision theory, they are to be explained in terms of the agent's desires about concrete outcomes. The orthodoxy has been criticised both for conflating two types of attitudes and for committing agents to attitudes that do not seem rationally required. To avoid these problems, it has been suggested that an agent's attitudes to risk should be captured by a risk function that is independent of her utility and probability functions. The main (...) problem with that approach is that it suggests that attitudes to risk are wholly distinct from people's (non-instrumental) desires. To overcome this problem, we develop a framework where an agent's utility function is defined over chance propositions (i.e., propositions describing objective probability distributions) as well as ordinary (non-chance) ones, and argue that one should explain different risk attitudes in terms of different forms of the utility function over such propositions. (shrink)

The veil of ignorance argument was used by John C. Harsanyi to defend Utilitarianism and by John Rawls to defend the absolute priority of the worst off. In a recent paper, Lara Buchak revives the veil of ignorance argument, and uses it to defend an intermediate position between Harsanyi's and Rawls' that she calls Relative Prioritarianism. None of these authors explore the implications of allowing that agent's behind the veil are averse to ambiguity. Allowing for aversion to ambiguity---which is both (...) the most commonly observed and a seemingly reasonable attitude to ambiguity---however supports a version of Egalitarianism, whose logical form is quite different from the theories defended by the aforementioned authors. Moreover, it turns out that the veil of ignorance argument neither supports standard Utilitarianism nor Prioritarianism unless we assume that rational people are insensitive to ambiguity. (shrink)

Jordan agreed to extensive liberalization undertakings under the General Agreement on Trade in Services (“GATS”) that would open some sectors that were previously closed or restricted to foreign suppliers and investors. It undertook horizontal commitments in cross-border movement of individuals and commercial presence covering all types of services.

Signing Ceremony of MOU on Professional Legal Diploma, Government of Dubai 2020.

This book is a translation of W.V. Quine's Kant Lectures, given as a series at Stanford University in 1980. It provide a short and useful summary of Quine's philosophy. There are four lectures altogether: I. Prolegomena: Mind and its Place in Nature; II. Endolegomena: From Ostension to Quantification; III. Endolegomena loipa: The forked animal; and IV. Epilegomena: What's It all About? The Kant Lectures have been published to date only in Italian and German translation. The present book is filled out (...) with the translator's critical Introduction, "The esoteric Quine?" a bibliography based on Quine's sources, and an Index for the volume. (shrink)

Many philosophers think that we should use a lottery to decide who gets a good to which two persons have an equal claim but which only one person can get. Some philosophers think that we should save identified persons from harm even at the expense of saving a somewhat greater number of statistical persons from the same harm. I defend a principled way of justifying both judgements, namely, by appealing to the decreasing marginal moral value of survival chances. I identify (...) four desiderata that, I contend, any such justification should satisfy, and explain how my account meets these desiderata, unlike some previous accounts. (shrink)

This paper briefly describes the life of Otte Gross and his thoughts on sexuality, society, and repression. This provides the basis to interpret the #MeToo movement as functioning in the same way as a repressed memory that breaks through to consciousness. Gross' suggestion that society "rapes" individuals and his assertion of a primordial matriarchal society are useful insights in understanding the #Metoo movement.

It has recently been argued that indeterminacy and indeterminism make most ordinary counterfactuals false. I argue that a plausible way to avoid such counterfactual skepticism is to postulate the existence of primitive modal facts that serve as truth-makers for counterfactual claims. Moreover, I defend a new theory of ‘might’ counterfactuals, and develop assertability and knowledge criteria to suit such unobservable ‘counterfacts’.

The article sets out a primitive ontology of the natural world in terms of primitive stuff—that is, stuff that has as such no physical properties at all—but that is not a bare substratum either, being individuated by metrical relations. We focus on quantum physics and employ identity-based Bohmian mechanics to illustrate this view, but point out that it applies all over physics. Properties then enter into the picture exclusively through the role that they play for the dynamics of the primitive (...) stuff. We show that such properties can be local, as well as holistic, and discuss two metaphysical options to conceive them, namely, Humeanism and modal realism in the guise of dispositionalism. 1 Introduction2 Primitive Ontology: Primitive Stuff3 The Physics of Matter as Primitive Stuff4 The Humean Best System Analysis of the Dynamical Variables5 Modal Realism about the Dynamical Variables6 Conclusion. (shrink)

This volume offers a collection of in-depth explorations of pragmatism as a framework for discussions in philosophy of science and metaphysics. Each chapter involves explicit reflection on what it means to be pragmatist, and how to use pragmatism as a guiding framework in addressing topics such as realism, unification, fundamentality, truth, laws, reduction, and more. -/- .

I defend a weak version of the Pigou-Dalton principle for chances. The principle says that it is better to increase the survival chance of a person who is more likely to die rather than a person who is less likely to die, assuming that the two people do not differ in any other morally relevant respect. The principle justifies plausible moral judgements that standard ex post views, such as prioritarianism and rank-dependent egalitarianism, cannot accommodate. However, the principle can be justified (...) by the same reasoning that has recently been used to defend the core axiom of ex post prioritarianism and egalitarianism, namely, Pigou-Dalton for well-being. The arguably biggest challenge for proponents of Pigou-Dalton for chances is that it violates State Dominance for social prospects. However, I argue that we have independent reason for rejecting State Dominance for social prospects, since it prevents a social planner from properly respecting people's preferences. (shrink)

I argue, first, that the deprived individuals whose predicaments Nussbaum cites as examples of "adaptive preference" do not in fact prefer the conditions of their lives to what we should regard as more desirable alternatives, indeed that we believe they are badly off precisely because they are not living the lives they would prefer to live if they had other options and were aware of them. Secondly, I argue that even where individuals in deprived circumstances acquire tastes for conditions that (...) we regard as bad, they are typically better off having their acquired preferences satisfied. If they are badly off it is because they cannot get what we and they, would regard as more desirable alternatives. Preference utilitarianism explains why individuals in such circumstances are badly off whether they have adapted to their deprived circumstances or not. Even if they prefer the conditions of their lives to all other available alternatives, most would prefer alternatives that are not available to them which would, on the preferentist account, make them better off. And that, on the preferentist account, is the basis for a radical critique of unjust institutions that limit people's options and prevent them from getting what they want. (shrink)

This paper is about the similarity between the appreciation of a piece of art, such as a cherished music album, and the loving appreciation of a person whom one knows well. In philosophical discussion about the rationality of love, the Qualities View (QV) says that love can be justified by reference to the qualities of the beloved. I argue that the oft-rehearsed trading-up objection fails to undermine the QV. The problems typically identified by the objection arise from the idea that (...) love-worthy qualities could be coarse-grained, when in fact they must be fine-grained. The analogy with appreciation of aesthetic qualities helps to draw out this point. Once the fine-grained nature of love-worthy qualities is properly understood, it is clear that critics of the QV cannot rely on the trading-up objection to motivate its rejection. Moreover, the paper’s core argument helps to illuminate the persistently aesthetic nature of interpersonal affections. (shrink)

A lineage of prominent philosophers who have discussed the second-person relation can be regarded as advancing structural accounts. They posit that the second-person relation effects one transformative change to the structure of practical reasoning. In this paper, I criticise this orthodoxy and offer an alternative, substantive account. That is, I argue that entering into second-personal relations with others does indeed affect one's practical reasoning, but it does this not by altering the structure of one's agential thought, but by changing what (...) reasons can become available. The importance of second-personal thought for action is heterogenous. Second-person relations make possible the emergence of a wide variety of different kinds of practical reasons: creating some, revealing others. Recognising this diminishes the appeal of the traditional, structural accounts of the practical significance of such second-personal relations. Moving away from structural accounts facilitates a more thorough understanding of the intersubjective form of action. (shrink)

If I were asked to put forward an ethical principle which I considered to be especially certain, it would be that no one can be responsible, in the properly ethical sense, for the conduct of another. Responsibility belongs essentially to the individual. The implications of this principle are much more far-reaching than is evident at first, and reflection upon them may lead many to withdraw the assent which they might otherwise be very ready to accord to this view of responsibility. (...) But if the difficulties do appear to be insurmountable, and that, very certainly, does not seem to me to be the case, then the proper procedure will be, not to revert to the barbarous notion of collective or group responsibility, but to give up altogether the view that we are accountable in any distinctively moral sense. (shrink)

Many philosophers and scientists have claimed that time has an arrow that points in a special direction. The Roman poet Ovid may have referred to this one-way property of time when he said, “Time itself glides on with constant motion, ever as a flowing river.” However, understanding this arrow is not … Continue reading The Arrow of Time →.

The Precautionary Principle (PP) is an influential principle of risk management. It has been widely introduced into environmental legislation, and it plays an important role in most international environmental agreements. Yet, there is little consensus on precisely how to understand and formulate the principle. In this paper I prove some impossibility results for two plausible formulations of the PP as a decision-rule. These results illustrate the difficulty in making the PP consistent with the acceptance of any trade-offs between catastrophic risks (...) and more ordinary goods. (shrink)

The relationship between “Towards a Critique of Violence” (1921) and the work of Franz Kafka has been well established by several critical studies devoted to Walter Benjamin. However, it is striking that Benjamin himself, already well acquainted with the work of the Czech writer in 1921, never made any comment to Kafka’s work in this essay, and, more broadly, in any of the related texts that make up the project on the ‘Critique of Violence’. In this article, we analyze a (...) set of notions (Entstellung, Entsühnung, Zurechstellen) that allow us to establish a mediated relationship between this essay and the articles and letters that Benjamin devoted to Kafka in the 1930s. This relationship takes us back to the only piece in which Benjamin carries out an autonomous treatment of the “category of justice” (1916) in which he identifies -as it will happen eighteen years later, in the essay on Kafka (1934)- the locus of justice in the “non-violence”, thus untying the knot that binds in a perhaps indiscernible way in the Jewish tradition the notions of “messianism” and “violence”. (shrink)

A moderately risk averse person may turn down a 50/50 gamble that either results in her winning $200 or losing $100. Such behaviour seems rational if, for instance, the pain of losing $100 is felt more strongly than the joy of winning $200. The aim of this paper is to examine an influential argument that some have interpreted as showing that such moderate risk aversion is irrational. After presenting an axiomatic argument that I take to be the strongest case for (...) the claim that moderate risk aversion is irrational, I show that it essentially depends on an assumption that those who think that risk aversion can be rational should be skeptical of. Hence, I conclude that risk aversion need not be irrational. (shrink)

Neoclassical economists use expected utility theory to explain, predict, and prescribe choices under risk, that is, choices where the decision-maker knows---or at least deems suitable to act as if she knew---the relevant probabilities. Expected utility theory has been subject to both empirical and conceptual criticism. This chapter reviews expected utility theory and the main criticism it has faced. It ends with a brief discussion of subjective expected utility theory, which is the theory neoclassical economists use to explain, predict, and prescribe (...) choices under uncertainty, that is, choices where the decision-maker cannot act on the basis of objective probabilities but must instead consult her own subjective probabilities. (shrink)

Dr Peter Sjöstedt-H reviews Dr Andrew R. Gallimore's book, Alien Information Theory. -/- This was published on PsyPressUK on 13 June 2019.