It is generally recognised that the potential positive and negative impacts of geoengineering will be distributed unevenly both geographically and temporally. The question of distributive justice in geoengineering thus is one of the major ethical issues associated with geoengineering. Currently, the question of distributive justice in geoengineering is framed in terms of who gets what (potential) benefits and harms from geoengineering, i.e. it is about the distribution of the outcomes of geoengineering. In this paper, I argue that the discussions (...) on distributive justice in geoengineering should not be outcome-based. Instead, it should be risk-based. I identify two problems for framing the question of distributive justice in geoengineering in terms of the distribution of its outcomes, i.e. the ‘if and then’ syndrome and the limited applicability of distributive principles in geoengineering policy, and suggest risk is a more proper object of distribution in the case of geoengineering. Following Hayenhjelm, I argue that the object of distribution in the case of fair distribution of risk should be (i) sources of risks and (ii) precautionary measures. I shall then demonstrate how it can be applied to the question of distributive justice in geoengineering. Finally, I end this paper by exploring the possible responses to the question of distributive justice in geoengineering by three major accounts of distributive justice, i.e. egalitarianism, prioritarianism, and sufficientarianism. (shrink)

A natural view in distributive ethics is that everyone's interests matter, but the interests of the relatively worse off matter more than the interests of the relatively better off. I provide a new argument for this view. The argument takes as its starting point the proposal, due to Harsanyi and Rawls, that facts about distributive ethics are discerned from individual preferences in the "original position." I draw on recent work in decision theory, along with an intuitive principle about risk-taking, (...) to derive the view. (shrink)

While there is an extensive literature on how the precautionary principle should be interpreted and when precautions should be taken, relatively little discussion exists about the fair distribution of costs of taking precautions. We address this issue by proposing a general framework for deciding how costs of precautions should be shared, which consists of a series of default principles that are triggered according to desert, rights, and ability to pay. The framework is developed with close attention to the pragmatics (...) of how distributions will affect actual behaviours. It is intended to help decision-makers think more systematically about distributional consequences of taking precautionary measures, thereby to improve decision-making. Two case studies—one about a ban on turtle fishing in Costa Rica, and one about a deep-sea mining project in Papua New Guinea—are given to show how the framework can be applied. (shrink)

Uncertainty, insufficient information or information of poor quality, limited cognitive capacity and time, along with value conflicts and ethical considerations, are all aspects thatmake risk managementand riskcommunication difficult. This paper provides a review of different risk concepts and describes how these influence risk management, communication and planning in relation to forest ecosystem services. Based on the review and results of empirical studies, we suggest that personal assessment of risk is decisive in the management of forest ecosystem (...) services. The results are used together with a reviewof different principles of the distribution of risk to propose an approach to risk communication that is effective aswell as ethically sound. Knowledge of heuristics and mutual information on both beliefs and desires are important in the proposed risk communication approach. Such knowledge provides an opportunity for relevant information exchange, so that gaps in personal knowledge maps can be filled in and effective risk communication can be promoted. (shrink)

This article develops an account of distributive epistemic justice in the production of scientific knowledge. We identify four requirements: (a) science should produce the knowledge citizens need in order to reason about the common good, their individual good and pursuit thereof; (b) science should produce the knowledge those serving the public need to pursue justice effectively; (c) science should be organized in such a way that it does not aid the wilful manufacturing of ignorance; and (d) when making decisions about (...) epistemic risks, scientists should make sure that there aren’t social groups or weighty interests that are neglected. After discussing these requirements, we examine the relationship between discriminatory and distributive epistemic injustice in science and argue that they often compound each other. (shrink)

If states are permitted to create and maintain a military force, by what means are they permitted to do so? This paper argues that a theory of just recruitment should incorporate a concern for moral risk. Since the military is a morally risky profession for its members, recruitment policies should be evaluated in terms of how they distribute moral risk within a community. We show how common military recruitment practices exacerbate and concentrate moral risk exposure, using the (...) UK as a case study. We argue that the British state wrongs its citizens by subjecting them to excessively morally risky recruitment practices. Since, we argue, this risk exposure cannot be justified by appealing to the benefits of a military career for recruits, our argument calls for reform of existing practices. Our method of evaluation is generalizable and thus can be used to assess other states’ practices. (shrink)

In this paper, we argue that our moral concern for future well-being should reduce over time due to important practical considerations about how humans interact with spacetime. After surveying several of these considerations (around equality, special duties, existential contingency, and overlapping moral concern) we develop a set of core principles that can both explain their moral significance and highlight why this is inherently bound up with our relationship with spacetime. These relate to the equitable distribution of (1) moral concern (...) in a universe that we can only causally affect in one temporal direction; (2) access to the benefits from using spacetime as a resource; and (3) the burdens of care given (1) and (2). We conclude by considering the practical implications of our argument and find that, while it is often assumed that a preference for present over future well-being weakens the case for existential risk mitigation, this likely is not the case. (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 exposure of doctors, nurses and other medical professionals to risks in the context of epidemics is significant. While traditional medical ethics offers the thought that these dangers may limit the extent to which a duty to care is applicable in such situations, it has less to say about what we might owe to medical professionals who are disadvantaged in these contexts. Luck egalitarianism, a responsibility-sensitive theory of distributive justice, appears to fare particularly badly in that regard. If we want (...) to maintain that medical professionals are responsible for their decisions to help, cure and care for the vulnerable, luck egalitarianism seems to imply that their claim of justice to medical attention in case of infection is weak or non-existent. The article demonstrates how a recent interpretation of luck egalitarianism offers a solution to this problem. Redefining luck egalitarianism as concerned with responsibility for creating disadvantages, rather than for incurring disadvantage as such, makes it possible to maintain that medical professionals are responsible for their choices and that those infected because of their choice to help fight epidemics have a full claim of justice to medical attention. (shrink)

The paper tries to examine the effects of economic crisis on philosophical considerations of distributive justice. It tackles the problem of a radical increase in scarcity as a condition of justice. Instead of assuming a relatively fixed (“moderate”) level of scarcity as a background against which justice in distribution obtains, the paper examines what happens when this level risks falling below and how does that change our views of distributive justice. It takes upon the recent events in the United (...) States to construe a specific philosophical model and ask how crisis distribution, where that favors wealthier actors, can be justified. By analyzing the crisis distribution principle, it ultimately aims to suggest that moderate scarcity should not be seen as a mere condition, but an important and vital object of justice. As such it falls within, not beyond legitimate obligations of democratic governance. (shrink)

Risky prospects represent policies that impose different types of risks on multiple people. I present an example from food safety. A utilitarian following Harsanyi's Aggregation Theorem ranks such prospects according to their mean expected utility or the expectation of the social utility. Such a ranking is not sensitive to any of four types of distributional concerns. I develop a model that lets the policy analyst rank prospects relative to the distributional concerns that she considers fitting in the context at hand. (...) I name this model ‘the Distribution View’ posing an alternative to Parfit's Priority View for risky prospects. (shrink)

This chapter explores properties that bind individuals, knowledge, and communities, together. Section ‎‎1 introduces Hardwig’s argument from trust in others’ testimonies as entailing that trust is the glue ‎that binds individuals into communities. Section 2 asks “what grounds trust?” by exploring assessment ‎of collaborators’ explanatory responsiveness, formal indicators such as affiliation and credibility, ‎appreciation of peers’ tacit knowledge, game-theoretical considerations, and the role moral character ‎of peers, social biases, and social values play in grounding trust. Section 3 deals with establishing (...) ‎reliability standards for formation and breaching of trust. Different epistemic considerations and their ‎underpinning of inductive risks are examined through various communication routes within a ‎discipline, between disciplines, and to the public. Section 4 examines whether a collective entity can ‎be trusted over and above trust that is given to its individual members. Section 5 deals with the roles ‎technological artifacts play in distributed research and collective knowledge. It presents the common ‎view in which genuine trust cannot, in principle, be accorded to artifacts, so as an opposite view. We ‎show that what counts as a genuine object of trust is relevant to debates about the boundaries of ‎collective agency and as a criterion for extended cognitive systems.‎. (shrink)

One challenge to the rationality of religious commitment has it that faith is unreasonable because it involves believing on insufficient evidence. However, this challenge and influential attempts to reply depend on assumptions about what it is to have faith that are open to question. I distinguish between three conceptions of faith each of which can claim some plausible grounding in the Judaeo-Christian tradition. Questions about the rationality or justification of religious commitment and the extent of compatibility with doubt look different (...) on accounts of faith in which trust or hope, rather than belief, are the primary basis for the commitments. On such accounts, while the person of faith has a stake in the truth of the content, practical as well as epistemic considerations can legitimately figure in normative appraisals. Trust and hope can be appropriate in situations of recognized risk, need not involve self-deception, and are compatible with the idea that one's purely epistemic opinions should be responsive only to evidence.Send article to KindleTo send this article to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle. Find out more about sending to your Kindle. Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply. Find out more about the Kindle Personal Document Service.Authentic faith and acknowledged risk: dissolving the problem of faith and reasonVolume 49, Issue 1DANIEL J. MCKAUGHAN DOI: https://doi.org/10.1017/S0034412512000200Your Kindle email address Please provide your Kindle [email protected]@kindle.com Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Send article to Dropbox To send this article to your Dropbox account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Dropbox. Authentic faith and acknowledged risk: dissolving the problem of faith and reasonVolume 49, Issue 1DANIEL J. MCKAUGHAN DOI: https://doi.org/10.1017/S0034412512000200Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Send article to Google Drive To send this article to your Google Drive account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive. Authentic faith and acknowledged risk: dissolving the problem of faith and reasonVolume 49, Issue 1DANIEL J. MCKAUGHAN DOI: https://doi.org/10.1017/S0034412512000200Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Export citation Request permission. (shrink)

Distribution of responsibility is one of the main focus areas in discussions about climate change ethics. Most of these discussions deal with the distribution of responsibility for climate change mitigation at the international level. The aim of this paper is to investigate if and how these principles can be used to inform the search for a fair distribution of responsibility for climate change adaptation on the local level. We found that the most influential distribution principles on (...) the international level were in turn built on one or more of seven basic principles: (P1) equal shares, (P2) desert, (P3) beneficiary pays, (P4) ability, (P5) self-help, (P6) limited responsibility for the worst off, and (P7) status quo preservation. It was found that all the basic principles, but P1, P3, and P7, are to some extent translatable to local climate adaptation. Two major problems hamper their usefulness on the local level: (1) several categories of agents need to take on responsibility; and (2) emissions do not work as a base for all principles. P4, P5, and P6 are applicable to local adaptation without changes. P4 is of particular importance as it seems to solve the first problem. P2 is applicable only if the second problem is solved, which can be achieved by using risk of harm instead of emissions as the basis for desert. (shrink)

ABSTRACT We have previously argued that there are forms of greenhouse gas offsetting for which, when one emits and offsets, one imposes no risk. Orri Stefansson objects that our argument fails to distinguish properly between the people who stand to be harmed by one’s emissions and the people who stand to be benefited by one’s offsetting. We reply by emphasizing the difference between acting with a probability of making a difference to the distribution of harm and acting in (...) a way that worsen’s someone’s prospect. (shrink)

Currently, under the conditions of permanent financial risks that hamper the sustainable economic growth in the financial sector, the development of evaluation and risk management methods both regulated by Basel II and III and others seem to be of special importance. The reputation risk is one of significant risks affecting reliability and credibility of commercial banks. The importance of reputation risk management and the quality of their assessment remain relevant as the probability of decrease in or loss (...) of business reputation influences the financial results and the degree of customers’, partners’ and stakeholders’ confidence. By means of imitating modeling based on Bayesian Networks and the fuzzy data analysis, the article characterizes the mechanism of reputation risk assessment and possible losses evaluation in banks by plotting normal and lognormal distribution functions. Monte-Carlo simulation is used to calculate the probability of losses caused by reputation risks. The degree of standardized histogram similarity is determined on the basis of the fuzzy data analysis applying Hamming distance method. The tree-like hierarchy based on the OWA-operator is used to aggregate the data with Fishburne's coefficients as the convolution scales. The mechanism takes into account the impact of criteria, such as return on equity, goodwill value, the risk assets ratio, the share of the productive assets in net assets, the efficiency ratio of interest bearing liabilities, the risk ratio of credit operations, the funding ratio and reliability index on the business reputation of the bank. The suggested methods and recommendations might be applied to develop the decision-making mechanism targeted at the implementation of reputation risk management system in commercial banks as well as to optimize risk management technologies. (shrink)

Stable adaptive strategy of Homo sapiens (SASH) is a result of the integration in the three-module fractal adaptations based on three independent processes of generation, replication, and the implementation of adaptations — genetic, socio-cultural and symbolic ones. The evolutionary landscape SASH is a topos of several evolutionary multi-dimensional vectors: 1) extraversional projective-activity behavioral intention (adaptive inversion 1), 2) mimesis (socio-cultural inheritance), 3) social (Machiavellian) intelligence, 4) the extension of inter-individual communication beyond their own social groups and their own species in (...) the rest of the world, 5) the symbolic system of communication (symbolic inheritance), 6) spiritualistic trans- formation of emotionally-shaped components of mentality, 7) the dominance of the rationalist thought mentality (enhancer of adaptive inverse 1), 8) a recursive distribution of projective-activity intentions on the man himself his genome, psyche and culture (Adaptive Inversion 2), 9) introversional reorientation of the vector of cognitive activity (adaptive inversion 3). (shrink)

Background: Postoperative pneumonia is a preventable complication associated with adverse outcomes, that greatly aggravates the medical expenses of patients. The goal of our study is to identify risk factors and outcomes of postoperative pneumonia.

The moral importance of liability to harm has so far been ignored in the lively debate about what self-driving vehicles should be programmed to do when an accident is inevitable. But liability matters a great deal to just distribution of risk of harm. While morality sometimes requires simply minimizing relevant harms, this is not so when one party is liable to harm in virtue of voluntarily engaging in activity that foreseeably creates a risky situation, while having reasonable alternatives. (...) On plausible assumptions, merely choosing to use a self-driving vehicle typically gives rise to a degree of liability, so that such vehicles should be programmed to shift the risk from bystanders to users, other things being equal. Insofar vehicles cannot be programmed to take all the factors affecting liability into account, there is a pro tanto moral reason not to introduce them, or restrict their use. (shrink)

This article asks how the costs and benefits of operating a monetary union should be distributed amongst its more and less competitive members, taking as an example the operation of the European Monetary Union (EMU or Eurozone). Drawing on existing domestic and transnational justice debates, I resist both a purely procedural and a purely distributive view. The former assumes treaties against a fair background can make any distribution fair and disregards how individual citizens are likely to fare depending on (...) how a monetary union is organized. The latter requires justice amongst Eurozone co-citizens, neglecting the value of member states’ choices and attitudes towards risk. Instead, I defend a view of the EMU as an association of free self-determining states. I also argue that a variety of factors are relevant to this problem, including the need to protect less competitive states from ‘domination,’ or inappropriate forms of control by their co-members, and to protect citizens from various forms of deprivation even if their own governments are willing to expose them to the relevant risks. (shrink)

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent financial crisis. Notably few models for IRC have been developed in the literature. This paper proposes a methodology consisting of two Monte Carlo simulations. The first Monte Carlo simulation simulates default, migration, and concentration in an integrated way. Combining with full re-valuation, the loss distribution at the first liquidity horizon for a subportfolio can be generated. The second Monte Carlo (...) simulation is the random draws based on the constant level of risk assumption. It convolutes the copies of the single loss distribution to produce one year loss distribution. The aggregation of different subportfolios with different liquidity horizons is addressed. Moreover, the methodology for equity is also included, even though it is optional in IRC. (shrink)

Armed military interventions often inflict large amounts of collateral harm on innocent civilians. Ought intervening soldiers, when possible, to direct collateral harm to one innocent population group rather than the other? Recently several authors have proposed that expected beneficiaries of a military intervention ought to carry greater risk of collateral harm than neutral bystanders who are not subject to the threat the military forces are intervening to avert. According to this view, intervening soldiers ought to reduce the risk (...) of collateral harm to neutral bystanders, even if this means foreseeably imposing a somewhat higher overall number of collateral casualties among those for whom the intervention is conducted. This chapter raises a number of challenges to this view. Even if the beneficiary thesis is accepted with respect to discrete risk-imposing acts, it should not be with respect to risk-imposing strategies individuated on a war-by-war basis. (shrink)

Despite small and medium enterprises (SMEs) being numerically predominant and the most vulnerable role players in the economy of many countries, little research has been conducted on risk management and sustainability of SMEs operating in the Fast Moving Consumer Goods (FMCG) sector of South Africa. This study fills this knowledge gap by investigating the extent to which risk management processes of SMEs operating in the FMCG sector of South Africa incorporate a robust analysis of sustainability factors. We achieve (...) this by distributing questionnaires to a sample of 320 FMCG SMEs in the Cape Metropolitan area. Qualitative data were gathered by interviewing two risk experts to validate the quantitative data gathered through a survey questionnaire. The results show that the risk management processes of FMCG SMEs do not incorporate a robust analysis of the components of sustainability, negatively affecting their survival. Apart from filling the knowledge gap, the study has also significant implications for FMCG SME owner-managers and policymakers while revealing future research avenues. (shrink)

In this article, we aim to map out the complexities which characterise debates about the ethics of vaccine distribution, particularly those surrounding the distribution of the COVID-19 vaccine. In doing so, we distinguish three general principles which might be used to distribute goods and two ambiguities in how one might wish to spell them out. We then argue that we can understand actual debates around the COVID-19 vaccine – including those over prioritising vaccinating the most vulnerable – as (...) reflecting disagreements over these principles. Finally, we shift our attention away from traditional discussions of distributive justice, highlighting the importance of concerns about risk imposition, special duties, and social roles in explaining debates over the COVID-19 vaccine. We conclude that the normative complexity this article highlights deepens the need for decision-making bodies to be sensitive to public input. (shrink)

Investigation of neural and cognitive processes underlying individual variation in moral preferences is underway, with notable similarities emerging between moral- and risk-based decision-making. Here we specifically assessed moral distributive justice preferences and non-moral financial gambling preferences in the same individuals, and report an association between these seemingly disparate forms of decision-making. Moreover, we find this association between distributive justice and risky decision-making exists primarily when the latter is assessed with the Iowa Gambling Task. These findings are consistent with neuroimaging (...) studies of brain function during moral and risky decision-making. This research also constitutes the first replication of a novel experimental measure of distributive justice decision-making, for which individual variation in performance was found. Further examination of decision-making processes across different contexts may lead to an improved understanding of the factors affecting moral behaviour. (shrink)

New technologies are often radical innovations that change current activities across different areas of social and economic life. At the beginning of the 21st century, some of these technologies are information and communications technology, nanotechnology, biotechnology, robotics, and artificial intelligence. These innovations stimulate new opportunities for the production, distribution, and consumption of goods and services, and thus can help solve social problems. But they also cause new social risks and inequalities.

When do probability distribution functions (PDFs) about future climate misrepresent uncertainty? How can we recognise when such misrepresentation occurs and thus avoid it in reasoning about or communicating our uncertainty? And when we should not use a PDF, what should we do instead? In this paper we address these three questions. We start by providing a classification of types of uncertainty and using this classification to illustrate when PDFs misrepresent our uncertainty in a way that may adversely affect decisions. (...) We then discuss when it is reasonable and appropriate to use a PDF to reason about or communicate uncertainty about climate. We consider two perspectives on this issue. On one, which we argue is preferable, available theory and evidence in climate science basically excludes using PDFs to represent our uncertainty. On the other, PDFs can legitimately be provided when resting on appropriate expert judgement and recognition of associated risks. Once we have specified the border between appropriate and inappropriate uses of PDFs, we explore alternatives to their use. We briefly describe two formal alternatives, namely imprecise probabilities and possibilistic distribution functions, as well as informal possibilistic alternatives. We suggest that the possibilistic alternatives are preferable. -/- . (shrink)

The last couple of decades have witnessed a renewed interest in the notion of inductive risk among philosophers of science. However, while it is possible to find a number of suggestions about the mitigation of inductive risk in the literature, so far these suggestions have been mostly relegated to vague marginal remarks. This paper aims to lay the groundwork for a more systematic discussion of the mitigation of inductive risk. In particular, I consider two approaches to the (...) mitigation of inductive risk—the individualistic approach, which maintains that individual scientists are primarily responsible for the mitigation of inductive risk, and the socialized approach, according to which the responsibility for the mitigation of inductive risk should be more broadly distributed across the scientific community or, even more broadly, across society. I review some of the argument for and against the two approaches and introduce two new problems for the individualistic approach, which I call the problem of precautionary cascades and the problem of exogenous inductive risk, and I argue that a socialized approach might alleviate each of these problems. (shrink)

methods that have shown promise for improving extreme risk analysis, particularly for assessing the risks of invasive pests and pathogens associated with international trade. We describe the legally inspired regulatory regime for banks, where these methods have been brought to bear on extreme ‘operational risks’. We argue that an ‘advocacy model’ similar to that used in the Basel II compliance regime for bank operational risks and to a lesser extent in biosecurity import risk analyses is ideal for permitting (...) the diversity of relevant evidence about invasive species to be presented and soundly evaluated. We recommend that the process be enhanced in ways that enable invasion ecology to make more explicit use of the methods found successful.. (shrink)

From Chernobyl to Fukushima, it became clear that the technology is a system evolutionary factor, and the consequences of man-made disasters, as the actualization of risk related to changes in the social heredity (cultural transmission) elements. The uniqueness of the human phenomenon is a characteristic of the system arising out of the nonlinear interaction of biological, cultural and techno-rationalistic adaptive modules. Distribution emerging adaptive innovation within each module is in accordance with the two algorithms that are characterized by (...) the dominance of vertical (transgenerational) and horizontal (infection, contagion) adaptive streams of information, respectively. Evolutionary risk is the result of an imbalance of autonomous adaptive systems have an essential attribute of adaptibe strategy of Homo. Technological civilization inherent predisposition to overcome their dependence on biological and physical components. This feature serves as an enhancer of the evolutionary generating conjugate with the scientific and technological development risk We can assume the existence of an intention of Western mentality to a high priority (positive or negative) of technological modifications micro-social environment and post- Soviet (East Slavic) mentality to modification of macro-social system. (shrink)

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs could (...) be positive or negative. Moreover, the model can naturally capture wrong or right way risk. (shrink)

The long unbearable sufferings in the past and agonies experienced in some future timelines in which a malevolent AI could torture people for some idiosyncratic reasons (s-risks) is a significant moral problem. Such events either already happened or will happen in causally disconnected regions of the multiverse and thus it seems unlikely that we can do anything about it. However, at least one pure theoretic way to cure past sufferings exists. If we assume that there is no stable substrate of (...) personal identity and thus a copy equals original, then by creating many copies of the next observer-moment of a person in pain in which he stops suffer, we could create indexical uncertainty in her future location and thus effectively steal her consciousness from her initial location and immediately relieve her sufferings. However, to accomplish this for people who have already died, we need to perform this operation for all possible people thus requiring enormous amounts of computations. Such computation could be performed by the future benevolent AI of Galactic scale. Many such AIs could cooperate acausally by distributing parts of the work between them via quantum randomness. To ensure their success, they need to outnumber all possible evil AIs by orders of magnitude, and thus they need to convert most of the available matter into computronium in all universes where they exist and cooperate acausally across the whole multiverse. Another option for curing past suffering is the use of wormhole time-travel to send a nanobot in the past which will, after a period of secret replication, collect the data about people and secretly upload them when their suffering becomes unbearable. (shrink)

This paper argues that the reduced-form jump diffusion model may not be appropriate for credit risk modeling. To correctly value hybrid defaultable financial instruments, e.g., convertible bonds, we present a new framework that relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is (...) mainly due to convertible underpricing. Empirically, however, we do not find evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price. (shrink)

Audience segmentation is necessary in health communications to ensure equitable resource distribution. Peer crowds, which are macro-level teen subcultures, are effective psychographic segments for health communications because each crowd has unique mindsets, values, norms, and health behavior profiles. These mindsets affect behaviors, and can be used to develop targeted health communication campaigns to reach those in greatest need. Though peer crowd research is plentiful, no existing peer crowd measurement tool has been formally validated. As such, we developed and validated (...) Virginia's Mindset Lens Survey (V-MLS), a mindset-based teen peer crowd segmentation survey to support health communication efforts. Using an online convenience sample of teens (N = 1,113), we assessed convergent and discriminant validity by comparing the V-MLS against an existing, widely-used peer crowd survey (I-Base Survey®) utilizing a multi-trait multi-method matrix. (shrink)

This paper presents a new model for valuing hybrid defaultable financial instruments, such as, convertible bonds. In contrast to previous studies, the model relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due to convertible underpricing. Empirically, however, we do not find (...) evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price. (shrink)

In this paper, we argue that solutions to normative challenges associated with autonomous driving, such as real-world trolley cases or distributions of risk in mundane driving situations, face the problem of reasonable pluralism: Reasonable pluralism refers to the fact that there exists a plurality of reasonable yet incompatible comprehensive moral doctrines within liberal democracies. The corresponding problem is that a politically acceptable solution cannot refer to only one of these comprehensive doctrines. Yet a politically adequate solution to the normative (...) challenges of autonomous driving need not come at the expense of an ethical solution, if it is based on moral beliefs that are (1) shared in an overlapping consensus and (2) systematized through public reason. Therefore, we argue that a Rawlsian justificatory framework is able to adequately address the normative challenges of autonomous driving and elaborate on how such a framework might be employed for this purpose. (shrink)

The setting of evidential standards is a core practice of scientific assessment for policy. Persuaded by considerations of inductive risk, philosophers generally agree that the justification of evidential standards must appeal to non-epistemic values but debate whether the balance of non-epistemic reasons favours varying evidential standards versus maintaining fixed high evidential standards in assessment, as both sets of standards promote different and important political virtues of advisory institutions. In this paper, I adjudicate the evidential standards debate by developing a (...) novel argument from justice, drawing on the IPCC’s assessment of climate impacts as a case study. I argue that in assessments marked by background evidential inequality, maintaining fixed high evidential standards results in an unequal distribution of ‘epistemic power’ among stakeholders, producing a ‘powerful assessment’ for the data-rich (a high rate of findings) and a ‘weak assessment’ for the data-poor (a low rate of findings). Where such inequalities of epistemic power disadvantage those in data-poor regions with respect to fundamental interests, such as basic human rights, we have decisive reasons of justice to vary evidential standards. (shrink)

The Distribution View provides a model that integrates four distributional concerns in the evaluation of risky prospects. Starting from these concerns, we can generate an ordering over a set of risky prospects, or, starting from an ordering, we can extract a characterization of the underlying distributional concerns. Separability of States and/or Persons for multiple-person risky prospects, for single-person risky prospects and for multiple-person certain prospects are discussed within the model. The Distribution View sheds light on public health policies (...) and provides a framework for the discussion of Parfit's Priority View for risky prospects. (shrink)

The study aimed to identify the level of promotion of entrepreneurship in the technical colleges in Palestine. The analytical descriptive method was used in the study. A questionnaire of 41 items was randomly distributed to the technical colleges in the Gaza Strip. The random sample consisted of (275) employees from the mentioned colleges, and the response rate were (74.5%). The results of the study showed that the technical colleges achieved a high level of promotion of entrepreneurship with a relative weight (...) of 73.45%. The results of the study showed that there is a high level of promotion of entrepreneurship (risk, preparedness, proactive competition, innovation orientation) in the technical colleges in Gaza Strip. The field of competition came in first place with a relative weight of 76.65%. In the second place came the field (the trend towards innovation) and relative weight (74.96%). In the third place came the field of pre-emptive preparedness with a relative weight of 74.07%. In the fourth and last place came the field of risk and a relative weight of 68.39%. The results confirmed that there are statistically significant differences in the promotion of entrepreneurship in the technical colleges in Gaza Strip due to the college variable in favor of UCAS. The results confirmed that there is no statistically significant relationship in the promotion of entrepreneurship in technical colleges in Gaza Strip due to the variable level of employment. The researchers suggest a set of recommendations, the most important of which is to draw the attention of the technical colleges to the importance of promoting entrepreneurship, because of their role in reducing the problem of unemployment, the importance of linking technical education and promoting entrepreneurship to the Palestinian society in general and Gaza Strip in particular. The importance of urging decision-makers in technical colleges to promote interest in leadership and to put their own courses in all technical education programs in these colleges, as well as enhancing the technical, technological and technical capabilities of technical education and keeping pace with the latest international standards by providing the necessary material resources. There is a need to urge researchers to conduct further studies of the future which deal with the same variables of the current study in the field of entrepreneurship and applied to other sectors. (shrink)

Wind damage to forests can be divided into (1) the direct damage done to the forest and(2) indirect effects. Indirect effects may be of different kinds and may affect the environ- ment as well as society. For example, falling trees can lead to power and telecommunica- tion failures or blocking of roads. The salvage harvest of fallen trees is another example and one that involves extremely dangerous work. In this overview we provide examples of different entities, services, and activities that (...) may be affected by wind damage to for- ests. We illustrate how valuation of the damage depends on the perspective applied and how the affected entities, services, and activities may represent different types of values. Finally we suggest means for how to actively manage the risk in an ethically sustainable way. Many of our examples will be drawn from the experiences of the wind damage Gudrun in southern Sweden on 8–9 January 2005. The direct as well as indirect effects, which are described, are by no means unique to the Gudrun wind damage event and similar or even worse effects have been described after the wind damage events Martin and Lothar in 1999, and Klaus in 2009. (shrink)

According to all-luck egalitarianism, the differential distributive effects of both brute luck, which defines the outcome of risks which are not deliberately taken, and option luck, which defines the outcome of deliberate gambles, are unjust. Exactly how to correct the effects of option luck is, however, a complex issue. This article argues that (a) option luck should be neutralized not just by correcting luck among gamblers, but among the community as a whole, because it would be unfair for gamblers as (...) a group to be disadvantaged relative to non-gamblers by bad option luck; (b) individuals should receive the warranted expected results of their gambles, except insofar as individuals blamelessly lacked the ability to ascertain which expectations were warranted; and (c) where societal resources are insufficient to deliver expected results to gamblers, gamblers should receive a lesser distributive share which is in proportion to the expected results. Where all-luck egalitarianism is understood in this way, it allows risk-takers to impose externalities on non-risk-takers, which seems counterintuitive. This may, however, be an advantage as it provides a luck egalitarian rationale for assisting ‘negligent victims’. (shrink)

I discuss the trilemma that consists of the following three principles being inconsistent: 1. The Common Principle: if one distribution, A, necessarily brings a higher total sum of personal value that is distributed in a more egalitarian way than another distribution, B, A is more valuable than B. 2. (Weak) ex-ante Pareto: if one uncertain distribution, A, is more valuable than another uncertain distribution, B, for each patient, A is more valuable than B. 3. Pluralism about (...) attitudes to risk (Pluralism): the personal value of a prospect is a weighted sum of the values of the prospect’s outcomes, but the weight each outcome gets might be different from the probability the prospect assigns to the outcome. (shrink)

Artificial intelligence (AI) is becoming increasingly influential in most people’s lives. This raises many philosophical questions. One is what responsibility we have as individuals to guide the development of AI in a desirable direction. More specifically, how should this responsibility be distributed among individuals and between individuals and other actors? We investigate this question from the perspectives of five principles of distribution that dominate the discussion about responsibility in connection with climate change: effectiveness, equality, desert, need, and ability. Since (...) much is already written about these distributions in that context, we believe much can be gained if we can make use of this discussion also in connection with AI. Our most important findings are: (1) Different principles give different answers depending on how they are interpreted but, in many cases, different interpretations and different principles agree and even strengthen each other. If for instance ‘equality-based distribution’ is interpreted in a consequentialist sense, effectiveness, and through it, ability, will play important roles in the actual distributions, but so will an equal distribution as such, since we foresee that an increased responsibility of underrepresented groups will make the risks and benefits of AI more equally distributed. The corresponding reasoning is true for need-based distribution. (2) If we acknowledge that someone has a certain responsibility, we also have to acknowledge a corresponding degree of influence for that someone over the matter in question. (3) Independently of which distribution principle we prefer, ability cannot be dismissed. Ability is not fixed, however and if one of the other distributions is morally required, we are also morally required to increase the ability of those less able to take on the required responsibility. (shrink)

May lethal autonomous weapons systems—‘killer robots ’—be used in war? The majority of writers argue against their use, and those who have argued in favour have done so on a consequentialist basis. We defend the moral permissibility of killer robots, but on the basis of the non-aggregative structure of right assumed by Just War theory. This is necessary because the most important argument against killer robots, the responsibility trilemma proposed by Rob Sparrow, makes the same assumptions. We show that the (...) crucial moral question is not one of responsibility. Rather, it is whether the technology can satisfy the requirements of fairness in the re-distribution of risk. Not only is this possible in principle, but some killer robots will actually satisfy these requirements. An implication of our argument is that there is a public responsibility to regulate killer robots ’ design and manufacture. (shrink)

Lara Buchak argues for a version of rank-weighted utilitarianism that assigns greater weight to the interests of the worse off. She argues that our distributive principles should be derived from the preferences of rational individuals behind a veil of ignorance, who ought to be risk averse. I argue that Buchak’s appeal to the veil of ignorance leads to a particular way of extending rank-weighted utilitarianism to the evaluation of uncertain prospects. This method recommends choices that violate the unanimous preferences (...) of rational individuals and choices that guarantee worse distributions. These results, I suggest, undermine Buchak’s argument for rank-weighted utilitarianism. (shrink)

Normatively inappropriate scientific dissent prevents warranted closure of scientific controversies and confuses the public about the state of policy-relevant science, such as anthropogenic climate change. Against recent criticism by de Melo-Martín and Intemann of the viability of any conception of normatively inappropriate dissent, I identify three conditions for normatively inappropriate dissent: its generation process is politically illegitimate, it imposes an unjust distribution of inductive risks, and it adopts evidential thresholds outside an accepted range. I supplement these conditions with an (...) inference-to-the-best-explanation account of knowledge-based consensus and dissent to allow policy makers to reliably identify unreliable scientific dissent. (shrink)

Some authors have called for increased research on various forms of geoengineering as a means to address global climate change. This paper focuses on the question of whether a particular form of geoengineering, namely deploying sulfate aerosols in the stratosphere to counteract some of the effects of increased greenhouse gas concentrations, would be a just response to climate change. In particular, we examine problems sulfate aerosol geoengineering (SAG) faces in meeting the requirements of distributive, intergenerational, and procedural justice. We argue (...) that SAG faces obstacles to meeting the requirements of all three considered kinds of justice, because its impacts can harm some persons and communities much more than others; it poses serious risks to future generations; and SAG is especially prone to unilateral implementation. While we do not claim that SAG ought not to be implemented, we argue that it is the responsibility of proponents of SAG to recognize and address these ethical obstacles before advocating its implementation. (shrink)

According to psychological research, people are more eager to help identified individuals than unidentified ones. This phenomenon significantly influences many important decisions, both individual and public, regarding, for example, vaccinations or the distribution of healthcare resources. This paper aims at presenting definitions of various levels of identifiability as well as a critical analysis of the main philosophical arguments regarding the normative significance of the identifiability effect, which refer to: (1) ex ante contractualism; (2) fair distribution of chances and (...) risks; (3) anti-aggregationist principles that recommend the distribution of bad effects and the concentration of good ones. I will show that these arguments, although connected with interesting philosophical problems regarding e.g. counterfactuals, aggregation, or probability, are unconvincing. (shrink)

Utilitarianism, it has been said, is not sensitive to the distribution of welfare. In making risky decisions for others there are multiple sensitivities at work. I present examples of risky decision-making involving drug allocations, charitable giving, breast-cancer screening and C-sections. In each of these examples there is a different sensitivity at work that pulls away from the utilitarian prescription. Instances of saving fewer people at a greater risk to many is more complex because there are two distributional sensitivities (...) at work that pull in opposite directions from the utilitarian calculus. I discuss objections to these sensitivities and conclude with some reflections on the value of formal modelling in thinking about societal risk. (shrink)

In this chapter I show how challenges to our ability to tame the uncertainty of a pandemic leaves us vulnerable to uncertainty phobia. This is because not all the uncertainty that matters can be tamed by our knowledge of the relevant probabilities, contrary to what many believe. We are vulnerable because unrelievable wild uncertainty is a hard burden to bear, especially so when we must act in the face of it. -/- The source of unrelievable wild uncertainty is that the (...) nature of probability distributions matters for whether knowledge of them tames uncertainty. It matters because a warrant for the taming is provided by two theorems, but this warrant applies only to some kinds of probability distribution. Essentially, this is because the theorems are about what happens at a mathematical limit but real life never reaches the limit. Consequently, the warrant depends on how quickly the random processes producing the uncertainty converge towards their limit. If they are governed by one class of probability distributions, they converge quickly enough to possess the warrant. If they are governed by another class of probability distributions, they converge towards their limit too slowly and so do not possess that warrant. The random processes of pandemics involve the slow kind . -/- Faced with such a burden, as we are in a pandemic, we are tempted to retreat into uncertainty phobia, leading to fixed definite opinions, precisely when the exercise of sound judgement to determine our responses requires our opinions to be hedged and mobile. Coping with a pandemic requires us to bear the burden of unrelievable wild uncertainty rather than give in to the temptation of uncertainty phobia. Pandemics require the virtue of epistemic forbearance. (shrink)