The concept of ecosystem services is a way of visualizing the instrumental value that nature has for human beings. Most ecosystem services can be performed by more than one species. This fact is sometimes used as an argument against the preservation of species. However, even though substitutability does detract from the instrumental value of a species, it also adds option value to it. The option value cannot make a substitutable species as instrumentally valuable as (...) a non-substitutable species, but in many cases, it can add enough value to make the species more valuable than the projects that threaten its existence. (shrink)

According to Burri, a major reason why suicide is often irrational lies in the option value of life. Remaining alive is valuable because this allows for a larger menu of options, and the possibility of committing suicide in the future adds further value to the act of remaining alive now. In this note, I represent life as a trust game played by two selves – the young self and the old self – and I argue that the (...) possibility to commit suicide in the future can encourage committing suicide now, against what the theory of the option value of life predicts. (shrink)

Supererogatory acts are those that lie “beyond the call of duty.” There are two standard ways to define this idea more precisely. Although the definitions are often seen as equivalent, I argue that they can diverge when options are infinite, or when there are cycles of better options; moreover, each definition is acceptable in only one case. I consider two ways out of this dilemma.

Even where willingness-to-pay as a measure of welfare impact is adjusted for diminishing marginal utility, welfare economics is shown to favour policies that add to the life expectancy or that enhance the quality of life of persons who are already better-off. I propose an alternative, Equal Respect methodology, under an axiomatic claim that at the point of decision the prospective life years of all individuals are of equal intrinsic social value. This justifies equal valuation of risk mitigation across all (...) persons; similarly, all appraised impacts should be scaled to accord equal respect to difficult but no-less-valuable lives. (shrink)

According to traditional forms of act-consequentialism, an action is right if and only if no other action in the given circumstances would have better consequences. It has been argued that this view does not leave us enough freedom to choose between actions which we intuitively think are morally permissible but not required options. In the first half of this article, I will explain why the previous consequentialist responses to this objection are less than satisfactory. I will then attempt to show (...) that agents have more options on consequentialist grounds than the traditional forms of act-consequentialism acknowledged. This is because having a choice between many permissible options can itself have value. (shrink)

Two options are incommensurate in value if neither is better than the other, and if a small improvement or worsening of one does not necessarily make it determinately better or worse than the other. If a person faces a sequence of choices between incommensurate options, she may end up with a worse options than she could have had, even though none of her choices are irrational. Yet it seems that rationality should save her from this bad outcome. This is (...) the practical problem posed by incommensurability of values, and it may be solved by a new account of practical reasoning. (shrink)

During the lifetime of a structured product, payment events and cancellation events mainly affect the value of the option. This article presents a model for pricing generic cancellable option. The model is used to build most common kinds of cancellation schedules and compute the cancellation probability.

How ought you to evaluate your options if you're uncertain about what's fundamentally valuable? A prominent response is Expected Value Maximisation (EVM)—the view that under axiological uncertainty, an option is better than another if and only if it has the greater expected value across axiologies. But the expected value of an option depends on quantitative probability and value facts, and in particular on value comparisons across axiologies. We need to explain what it is (...) for such facts to hold. Also, EVM is by no means self-evident. We need an argument to defend that it’s true. This book introduces an axiomatic approach to answer these worries. It provides an explication of what EVM means by use of representation theorems: intertheoretic comparisons can be understood in terms of facts about which options are better than which, and mutatis mutandis for intratheoretic comparisons and axiological probabilities. And it provides a systematic argument to the effect that EVM is true: the theory can be vindicated through simple axioms. The result is a formally cogent and philosophically compelling extension of standard decision theory, and original take on the problem of axiological or normative uncertainty. (shrink)

This chapter explores the idea that phylogenetic diversity plays a unique role in underpinning conservation endeavour. The conservation of biodiversity is suffering from a rapid, unguided proliferation of metrics. Confusion is caused by the wide variety of contexts in which we make use of the idea of biodiversity. Characterisations of biodiversity range from all-variety-at-all-levels down to variety with respect to single variables relevant to very specific conservation contexts. Accepting biodiversity as the sum of a large number of individual measures results (...) in an empirically intractable framework. However, large-scale decisions cannot be based on biodiversity variables inferred from local conservation imperatives because the variables relevant to the many systems being compared would be incommensurate with one another. We therefore need some general conception of biodiversity that would make tractable such large-scale environmental decision-marking. We categorise the large array of strategies for the measurement of biodiversity into four broad groups for consideration as general measures of biodiversity. We compare common moral justifications for the conservation of biodiversity and conclude that some form of instrumental value is the most plausible justification for biodiversity conservation. Although this is often interpreted as a reliance on option value, we opt for a broadly consequentialist characterisation of biodiversity conservation. We conclude that the best justified general measure of biodiversity will be some form of phylogenetic diversity. (shrink)

The (moral) permissibility of an act is determined by the relative weights of reasons, or so I assume. But how many weights does a reason have? Weight Monism is the idea that reasons have a single weight value. There is just the weight of reasons. The simplest versions hold that the weight of each reason is either weightier than, less weighty than, or equal to every other reason. We’ll see that this simple view leads to paradox in at least (...) two ways. We must complicate the picture somehow. I consider two candidate complications. The first, Parity Monism, is inspired by Ruth Chang’s suggestion that parity is a fourth comparative beyond the traditional three (>, <, =). This view complicates the single weight relation by allowing that the weights of reasons can be on a par. Unfortunately, Parity Monism resolves only one of the two paradoxes that afflict simple versions of Weight Monism. To resolve both paradoxes, we need our second candidate complication, Weight Pluralism. This view holds that reasons have at least two weight values (e.g., justifying weight and requiring weight) and these two values aren’t always equivalent. Parity is no substitute for Pluralism. (shrink)

We all could have had better lives, yet often do not wish that our lives had gone differently, especially when we contemplate alternatives that vastly diverge from our actual life course. What, if anything, accounts for such conservative retrospective attitudes? I argue that the right answer involves the significance of our personal attachments and our biographical identity. I also examine other options, such as the absence of self-to-self connections across possible worlds and a general conservatism about value.

Non-epistemic values pervade climate modelling, as is now well documented and widely discussed in the philosophy of climate science. Recently, Parker and Winsberg have drawn attention to what can be termed “epistemic inequality”: this is the risk that climate models might more accurately represent the future climates of the geographical regions prioritised by the values of the modellers. In this paper, we promote value management as a way of overcoming epistemic inequality. We argue that value management can be (...) seriously considered as soon as the value-free ideal and inductive risk arguments commonly used to frame the discussions of value influence in climate science are replaced by alternative social accounts of objectivity. We consider objectivity in Longino's sense as well as strong objectivity in Harding's sense to be relevant options here, because they offer concrete proposals that can guide scientific practice in evaluating and designing so-called multi-model ensembles and, in fine, improve their capacity to quantify and express uncertainty in climate projections. (shrink)

This work introduces the framework for selecting architecture in 5G networks, considering various technological, performance, economic, and operational factors. With the emergence of 5G technology, the architecture selection process has become pivotal in meeting diverse requirements for ultra-high-speed connectivity, low latency, scalability, and diverse service demands. The evaluation comprehensively analyses different architecture options, including centralized, distributed, cloud-based, and virtualized architectures. Factors such as network performance, scalability, cost-effectiveness, security, and compatibility are considered within a multi-criteria decision-making framework. Findings reveal each architecture (...) option's diverse strengths and limitations, emphasizing the importance of aligning architectural choices with specific use cases, deployment scenarios, and business objectives. We used the concept of multi-criteria decision-making (MCDM) methodology to control the various criteria. We used the single-valued neutrosophic set (SVNS) to deal with vague and inconsistent data. The SVNS is integrated with the hyperSoft set. The proposed methodology uses a single-valued neutrosophic hyperSoft set (SVNHSS) to select the best 5G architecture. We used the VIKOR method as an MCDM method to rank the alternatives. The proposed framework provides stakeholders with a structured methodology to evaluate and prioritize architecture options, facilitating informed decision-making in the complex landscape of 5G network deployments. (shrink)

If we were required to sacrifice our own interests whenever doing so was best overall, or prohibited from doing so unless it was optimal, then we would be mere sites for the realisation of value. Our interests, not ourselves, would wholly determine what we ought to do. We are not mere sites for the realisation of value — instead we, ourselves, matter unconditionally. So we have options to act suboptimally. These options have limits, grounded in the very same (...) considerations. Though not merely such sites, you and I are also sites for the realisation of value, and our interests (and ourselves) must therefore sometimes determine what others ought to do, in particular requiring them to bear reasonable costs for our sake. Likewise, just as my moral status grounds a requirement that others show me appropriate respect, so must I do to myself. (shrink)

The topic of this thesis is axiological uncertainty – the question of how you should evaluate your options if you are uncertain about which axiology is true. As an answer, I defend Expected Value Maximisation (EVM), the view that one option is better than another if and only if it has the greater expected value across axiologies. More precisely, I explore the axiomatic foundations of this view. I employ results from state-dependent utility theory, extend them in various (...) ways and interpret them accordingly, and thus provide axiomatisations of EVM as a theory of axiological uncertainty. (shrink)

There is a strong intuition that a zombie’s life is never good or bad for the zombie. This suggests that consciousness has a special role in making life good or bad for the one who lives it. What explains this? In this paper, I consider five possible explanations of the intuition that a zombie’s life is never worth living, plus the option of rejecting the intuition. I point out the considerable costs of each option, though making clear which (...) option strikes me as least problematic. (shrink)

The standard form of act-consequentialism requires us to perform the action with the best consequences; it allows choice between moral options only on those rare occasions when several actions produce equally good results. This paper argues for moral options and thus against act-consequentialism. The argument turns on the insight that some valuable things cannot exist unless our moral system allows options. One such thing is the opportunity for individuals to enact plans for their life from among alternatives. Because planning one’s (...) life has value, and because it requires moral options, a world governed by a moral system that admits of options is better than one governed by act-consequentialism. The paper argues that these facts entail that morality admits of a significant number of moral options; act-consequentialism is false. (shrink)

Existence internalism claims that facts about human psychological responsiveness constrain the metaphysics of value in particular ways. Chapter 5 examines whether some form of existence internalism holds for prudential value. It emphasizes the importance of a modal distinction that has been traditionally overlooked. Some facts about personal good are facts about realized good. For example, right now it may be true that X is good for me. Other facts about goodness are facts about what would be good for (...) me in certain possible futures. These are facts about merely possible good. Philosophers should be internalists about realized good. The chapter defends a qualified version of the idea that a necessary constraint on something’s being good for a person at a time is that the thing in question elicits some kind of positive psychological response from the person at that time. However, philosophers should be motivational externalists about merely possible good. Facts about the superior future goodness of an option may ground reasons now to choose it. But we should not expect individuals to always recognize such facts, and so there is no reason to think such facts are always motivating. (shrink)

In this chapter I will concentrate on compromise in ethical conflict and disagreement. I will discuss compromises related to disagreement with respect to public decisions between options that represent conflicting incommensurable human values. The central question will be whether in those cases a principled compromise is possible. A ‘principled compromise’ can be defined as a rational way to achieve a trade-off or balance between conflicting values, for instance, by rational assignment of relative weights. I will argue that in some cases (...) incommensurability will prevent a principled compromise in the defined sense. I will show why phrases used by some philosophers, such as ‘making a rational trade-off’, ‘striking the right balance’, ‘finding the Aristotelian Mean’ or ‘splitting the difference’, are based on misunderstandings about the characteristics of incommensurable values that are usually at stake in the pursuit of a compromise. I will show that incommensurable values lack an equivalence relation and how this prevents a determinate trade-off or balance between them. This is especially important with respect to the pursuit of compromises in ethical conflicts, including conflicts of justice, where we need a rational and ethical justification for the final decision. I will argue that the model of deliberative democracy presents a promising procedure for making the final decision legitimate but that, in the relevant cases, it cannot avoid an ethical deficit. (shrink)

In this article, I will defend the so-called buck-passing theory of value. According to this theory, claims about the value of an object refer to the reason-providing properties of the object. The concept of value can thus be analyzed in terms of reasons and the properties of objects that provide them for us. Reasons in this context are considerations that count in favour of certain attitudes. There are four other possibilities of how the connection between reasons and (...) value might be formulated. For example, we can claim that value is a property that provides us with reasons to choose an option that has this property. I argue that none of these four other options can ultimately be defended, and therefore the buck-passing account is the one we ought to accept as the correct one. The case for the buck-passing account becomes even stronger, when we examine the weak points of the most pressing criticism against this account thus far. (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)

In Crowder’s reformulation of Berlin’s argument, not only does value pluralism provide support for liberalism, it actually suggests a version of liberalism that promotes the public use of personal autonomy. For Crowder, personal autonomy is a necessary element given value pluralism as it allows the individual to choose between a plurality of incommensurable options. In order to advance personal autonomy, Crowder advocates a robust account of freedom of exit coupled with a form of autonomy-facilitating education. To this effect (...) Crowder posits that it is acceptable to intervene in the lives of non-liberals in order to promote individual autonomy as a public ideal. However, I argue that despite the positive implications that a pro-autonomy account of liberalism may have for both the individual and the state, it will limit range of acceptable values within the liberal state and thus undermine certain aspects of value pluralism. (shrink)

Corporative global media cannot be an instrument of the culture of peace, because they have made widespread individualistic values of the consummative society. Through their symbolic power, they successfully dominate over every sphere of existence of a society: politics, economic life, social ties, national culture, human communication and private life. Traditional media could not be a factor in the promotion and development of culture of peace, simply because they are proponents of corporative economic and political interests. It is in the (...) interest of citizens to counter the activities of “rapacious capitalism” (SCHMIDT 1998), of local comprador political and economic elites, and the practice of robbery of their work; to bridle the proliferation of weapons and acts of aggression. (shrink)

Sikh Gurus' spiritual wisdom is universal. It is applicable to all, regardless of caste, creed, color, gender, age, and religion. But it is sad to note that a large numbers of Sikh children are not motivated enough to follow Sikh values. Many young people are addicted to alcohol, drugs, substance abuse and social media due to prevalent societal fashion or peer pressure. Unfortunately, Sikhs are ignoring this facet of their community life. However, there is no shortage of available opportunities that (...) can help Sikh youth to avoid this awful situation. The only condition is that we must reorient our outlook and actions. Let us have a look at the available options. (shrink)

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 consistently choose the option with the highest expected value. To the extent that what we choose on a given occasion should be guided by the entire series of choices we prefer, then on each occasion, we should choose the option with the highest expected moral value. (shrink)

Public health policy often limits people’s liberty for their own good. The very point of many types of public health measures is to restrict people’s options in order to stop them from doing unhealthy things, for example use harmful recreational drugs or drive without a seatbelt. While such restrictive public health policies enjoy widespread support, so does the traditional liberal idea that liberty (or autonomy) is a higher value, to be given priority in most, if not all, circumstances. In (...) this text, I will defend the thesis that liberty is an important value, but with no claim to priority. (shrink)

This article presents a generic model for pricing financial derivatives subject to counterparty credit risk. Both unilateral and bilateral types of credit risks are considered. Our study shows that credit risk should be modeled as American style options in most cases, which require a backward induction valuation. To correct a common mistake in the literature, we emphasize that the market value of a defaultable derivative is actually a risky value rather than a risk-free value. Credit value (...) adjustment (CVA) is also elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level. (shrink)

The ecosystem services argument is a highly publicised instrumental argument for protecting biodiversity. I develop a new objection to this argument based on the lack of a causal connection from global species losses to local ecosystem changes. I survey some alternative formulations of services arguments, including ones incorporating option value or a precautionary principle, and show that they do not fare much better than the standard version. I conclude that environmental thinkers should rely less on ecosystem services as (...) a means to defend biodiversity, and that attention should be focused on additional types of value which might be attributed to global biodiversity. (shrink)

(The Kindle book can be ordered for $3.21 from Amazon) -/- Thinking is a fundamental activity of our species – those that give names to other creatures and call themselves humans. Textbooks tell us that there is about 1.2 kg of matter called the brain inside the human body. It sounds small but actually is proportionally the biggest among all animals on Earth. -/- I became more aware of thinking at around 5th grade upon hearing about an ancient paradox. It (...) can be summarized as follows. -/- ¤ -/- Once upon a time, there was a stupid king. In his kingdom lived a sage who was highly respected for his intelligence. The King did not appreciate this fact. Maybe the Sage made fun of the King’s intellect, but I am not so sure. Anyway, one day, the King summoned the Sage, intending to kill him. -/- The King said, “Wise man, I heard you earn a living by thinking and arguing. Now I give you two options to die.” -/- The Sage said, “Please tell me the choices, Your Majesty.” -/- The King continued, “You live by your tongue, so I will let you say one sentence before you die. If what you say is true, you will die by hanging. If what you say is false, you will die by beheading.” -/- Little did the King know that this was a stupid order. After a short while, the Sage confidently spoke his “last words”, which actually were what saved his life: -/- “Your Majesty, I am about to be beheaded!” -/- ¤ -/- As a “wild animal” going out into life from a young age, my brain spent a lot of time and energy looking for food. Now that I have become older, my body no longer needs so much sustenance. However, my mind craves a different type of nourishment: food for thought. -/- Food for thought can directly lead to food (on the table). My main job as a scientist exemplifies what I have just stated. Maybe we were wrong. Maybe it has been “thought for food” all along, like in such a sequence as TFFTTTFTFFTTFFFT... -/- In the hyper-chaotic infosphere today, we are surrounded by the noises of information, not only as wavy shores or waterfalls but also mega-tsunamis, through Twitter, Facebook, Tiktok, Instagram, Youtube, etc. More than ever, tranquility and calmness are necessary. Like what you have seen in wilderness video clips, predators such as lions, bears, and alligators act lightning-fast when catching prey. But when food is served, the natural world returns to its peaceful, soothing silence. -/- This short book is in its own tidy infosphere, where each little story is also brief and self-contained. Despite this small appearance, I hope the content inside carries the value of tranquility and life observation. The book is petite, but pretty sure not malnourished. A not-too-small detail is that the way the content was shaped and distilled reflects some innovations of mine and my research team: the mindsponge theory, a new theory of serendipity, the bayesvl R package, the BMF analytics, as well as other experiences from working in the field of science. After all, scientific works were my main source of food (before this book sells well – if it does). -/- Welcome to the priceless sober moments – with a chicken-burger price tag! -/- I hope this book will bring readers some moments of calmness, peaceful smiles, and maybe a couple of good laughs too. -/- ~~~ -/- *This update: December 12, 2023 (Third edition, with additions). (shrink)

Partiality is the special concern that we display for ourselves and other people with whom we stand in some special personal relationship. It is a central theme in moral philosophy, both ancient and modern. Questions about the justification of partiality arise in the context of enquiry into several moral topics, including the good life and the role in it of our personal commitments; the demands of impartial morality, equality, and other moral ideals; and commonsense ideas about supererogation. This paper provides (...) an overview of the debate on the ethics of partiality through the lens of the domains of permissible and required partiality. After outlining the conceptual space, I first discuss agent-centred moral options that concern permissions not to do what would be impartially optimal. I then focus on required partiality, which concerns associative duties that go beyond our general duties to others and require us to give special priority to people who are close to us. I discuss some notable features of associative duties and the two main objections that have been raised against them: the Voluntarist and the Distributive objections. I then turn to the justification of partiality, focusing on underivative approaches and reasons-based frameworks. I discuss the reductionism and non-reductionism debate: the question whether partiality is derivative or fundamental. I survey arguments for ‘the big three’, according to which partiality is justified by appeal to the special value of either projects, personal relationships, or individuals. I conclude by discussing four newly emerging areas in the debate: normative transitions of various personal relationships, relationships with AI, epistemic partiality, and negative partiality, which concerns the negative analogue of our positive personal relationships. (shrink)

Morality seems to require us to attend to the good of others, but does not require that we assign any importance to our own good. Standard forms of consequentialism thus appear vulnerable to the compulsory self-benefit objection: they require agents to benefit themselves when doing so is entailed by the requirement of maximizing overall impersonal good. Attempts to address this objection by appealing to ideally motivated consequentialist agents; by rejecting maximization; by leveraging consequentialist responses to the more familiar special relationships (...) and demandingness objections; or by appealing to dual rankings of moral and all-things-considered reasons fall short of adequately answering this objection. A satisfactory response to the compulsory self-benefit objection is elusive because of consequentialism struggles to account for directed options (in this case, an option not to maximize one’s own good but not that of others) and for moral considerations that do not rest on the value of outcomes or states of affairs. (shrink)

There has been considerable discussion recently of consequentialist justifications of epistemic norms. In this paper, I shall argue that these justifications are not justifications. The consequentialist needs a value theory, a theory of the epistemic good. The standard theory treats accuracy as the fundamental epistemic good and assumes that it is a good that calls for promotion. Both claims are mistaken. The fundamental epistemic good involves accuracy, but it involves more than just that. The fundamental epistemic good is knowledge, (...) not mere true belief, because the goodness of an epistemic state is connected to that state's ability to give us reasons. If I'm right about the value theory, this has a number of significant implications for the consequentialist project. First, the good-making features that attach to valuable full beliefs are not features of partial belief. The resulting value theory does not give us the values we need to give consequentialist justifications of credal norms. Second, the relevant kind of good does not call for promotion. It is good to know, but the rational standing of a belief is not determined by the belief's location in a ranked set of options. In the paper's final section, I explain why the present view is a kind of teleological non-consequentialism. There is a kind of good that is prior to the right, but as the relevant kind of good does not call for promotion the value theory shows us what is wrong with the consequentialist project. (shrink)

The richer you are, the less equally rich or richer people. The richest is only one (=unique). Maximization of richness or leisure (=classic utility), maximizes the uniqueness (=improbability) that can be maximized also by: extreme sport, suicide, tattoo, count of views... The richest seem unique as the poorest, but the rich can easily become poor, while the poor can hardly get rich. So the aim of maximization reflects IQ and options. Few options increase irrationality, regardless of IQ. I also present (...) the law of values' equality, Utility of Suicide, motivation to support the better, and overview the economics as such. Presented as PhD thesis at CERGE-EI, 2000, exhibited in Holland Park, W8 6LU, 2013, presented at conferences in Santorini 2016, Daejon 2016, Adelaide 2016. (shrink)

This essay discusses implications of incommensurability of values for justified decision-making, ethics and justice. Under particular conditions incommensurability of values causes what might be called ‘incomplete comparability’ of options. Some leading theorists interpret this in terms of ‘imprecise equality’ and ‘imprecise comparability.’ This interpretation is mistaken and conceals the implications of incommensurability for practical and ethical reasoning. The aim of this essay is to show that, in many cases, incommensurability prevents the assignment of determinate weights to competing values. This may (...) have problematic consequences for a complete and impartial justification of decisions concerning conflicting values to the extent that they depend on the need of weighing them. (shrink)

A straightforward way to handle moral uncertainty is simply to follow the moral theory in which you have most credence. This approach is known as My Favourite Theory. In this paper, I argue that, in some cases, My Favourite Theory prescribes choices that are, sequentially, worse in expected moral value than the opposite choices according to each moral theory you have any credence in. In addition this, problem generalizes to other approaches that avoid intertheoretic comparisons of value, such (...) as My Favourite Option, the Borda Rule, Variance Normalization, and the Principle of Maximizing Expected Normalized Moral Value. (shrink)

If A is better than B and B is better than C, then A is better than C, right? Larry Temkin and Stuart Rachels say: No! Betterness is nontransitive, they claim. In this paper, I discuss the central type of argument advanced by Temkin and Rachels for this radical idea, and argue that, given this view very likely has sceptical implications for practical reason, we would do well to identify alternative responses. I propose one such response, which employs the idea (...) that rational agents might regard some options as incommensurate in value, and will reasonably employ a heuristic of status quo maintenance to avoid suboptimal choices from incommensurate goods. (shrink)

The focus of this essay is on conflicts of values and rival options in public decision-making, ethics and justice that seem to require us to balance the values or options against each other. The aim is to investigate implications of the so-called fourth value relation between competing valuable options for the possibility to weigh and balance them. The fourth value relation applies to many alternatives that represent important but conflicting or incompletely compatible human values. In this essay I (...) will try to show that in those cases it is implausible that relative weights and right balances can be determined or that they exist at all. The fourth value relation has significant implications for the resolution of the relevant value conflicts because it renders the answer to the question ‘what’s the right thing to do?’ indeterminate as far as this answer depends on comparative weights of the alternatives. (shrink)

Epistemic paternalism is the thesis that a paternalistic interference with an individual's inquiry is justified when it is likely to bring about an epistemic improvement in her. In this article I claim that in order to motivate epistemic paternalism we must first account for the value of epistemic improvements. I propose that the epistemic paternalist has two options: either epistemic improvements are valuable because they contribute to wellbeing, or they are epistemically valuable. I will argue that these options constitute (...) the foundations of a dilemma: either epistemic paternalism collapses into general paternalism, or a distinctive project of justified epistemic paternalism is implausible. (shrink)

How should an agent decide what to do when she is uncertain not just about morally relevant empirical matters, like the consequences of some course of action, but about the basic principles of morality itself? This question has only recently been taken up in a systematic way by philosophers. Advocates of moral hedging claim that an agent should weigh the reasons put forward by each moral theory in which she has positive credence, considering both the likelihood that that theory is (...) true and the strength of the reasons it posits. The view that it is sometimes rational to hedge for one's moral uncertainties, however, has recently come under attack both from those who believe that an agent should always be guided by the dictates of the single moral theory she deems most probable and from those who believe that an agent's moral beliefs are simply irrelevant to what she ought to do. Among the many objections to hedging that have been pressed in the recent literature is the worry that there is no non-arbitrary way of making the intertheoretic comparisons of moral value necessary to aggregate the value assignments of rival moral theories into a single ranking of an agent's options. -/- This dissertation has two principal objectives: First, I argue that, contra these recent objections, an agent's moral beliefs and uncertainties are relevant to what she rationally ought to do, and more particularly, that agents are at least sometimes rationally required to hedge for their moral uncertainties. My principal argument for these claims appeals to the enkratic conception of rationality, according to which the requirements of practical rationality derive from an agent's beliefs about the objective, desire-independent value or choiceworthiness of her options. Second, I outline a new general theory of rational choice under moral uncertainty. Central to this theory is the idea of content-based aggregation, that the principles according to which an agent should compare and aggregate rival moral theories are grounded in the content of those theories themselves, including not only their value assignments but also the metaethical and other non-surface-level propositions that underlie, justify, or explain those value assignments. (shrink)

This thesis consists of several independent papers in population ethics. I begin in Chapter 1 by critiquing some well-known 'impossibility theorems', which purport to show there can be no intuitively satisfactory population axiology. I identify axiological vagueness as a promising way to escape or at least mitigate the effects of these theorems. In particular, in Chapter 2, I argue that certain of the impossibility theorems have little more dialectical force than sorites arguments do. From these negative arguments I move to (...) positive ones. In Chapter 3, I justify the use of a 'veil of ignorance', starting from three more basic normative principles. This leads to positive arguments for various kinds of utilitarianism - the best such arguments I know. But in general the implications of the veil depend on how one answers what I call 'the risky existential question': what is the value to an individual of a chance of non-existence? I chart out the main options, and raise some puzzles for non-comparativism, the view that life is incomparable to non-existence. Finally, in Chapter 4, I consider the consequences for population ethics of the idea that what is normatively relevant is not personal identity, but a degreed relation of psychological connectedness. In particular, I pursue a strategy based in population ethics for understanding the controversial 'time-relative interests' account of the badness of death. (shrink)

The principle that rational agents should maximize expected utility or choiceworthiness is intuitively plausible in many ordinary cases of decision-making under uncertainty. But it is less plausible in cases of extreme, low-probability risk (like Pascal's Mugging), and intolerably paradoxical in cases like the St. Petersburg and Pasadena games. In this paper I show that, under certain conditions, stochastic dominance reasoning can capture most of the plausible implications of expectational reasoning while avoiding most of its pitfalls. Specifically, given sufficient background uncertainty (...) about the choiceworthiness of one's options, many expectation-maximizing gambles that do not stochastically dominate their alternatives "in a vacuum" become stochastically dominant in virtue of that background uncertainty. But, even under these conditions, stochastic dominance will not require agents to accept options whose expectational superiority depends on sufficiently small probabilities of extreme payoffs. The sort of background uncertainty on which these results depend looks unavoidable for any agent who measures the choiceworthiness of her options in part by the total amount of value in the resulting world. At least for such agents, then, stochastic dominance offers a plausible general principle of choice under uncertainty that can explain more of the apparent rational constraints on such choices than has previously been recognized. (shrink)

According to perspectivism about moral obligation, our obligations are affected by our epistemic circumstances. But how exactly should this claim be understood? On Zimmerman’s “Prospective View”, perspectivism is spelled out as the thesis that an option is obligatory if and only if it maximizes what Zimmerman calls “prospective value”, which is in turn determined by the agent’s present evidence. In this article, I raise two objections to this approach. Firstly, I argue that spelling out the difference between perspectivism (...) and anti-perspectivism in terms of value creates a number of problems that can be avoided by an account that proceeds in terms of reasons. Secondly, I argue that Zimmerman focuses on the wrong body of evidence, and that this commits him to an implausible solution to the problem that perspectivists face with regard to advice from better-informed sources. (shrink)

David Lewis rejected consequentialism in ethics. However, two aspects of his meta-ethical views make it a challenge to see how consequentialism could be resisted. Lewis endorses a maximising conception of rationality, where to be rational is to maximise value of a certain sort; he appears to think it is possible to be both rational and moral; and yet he rejects conceptions of moral action as acting to maximise moral value. The second tension in Lewis's views arises from his (...) meta-ethics. Lewis's naturalisation of morality is in terms of a naturalised account of value, including moral value. Insofar as he offers a motivational story for moral judgements, it is one that goes via a motivational connection to value. Yet his anti-consequentialism seems to commit him to rejecting a story of moral action entirely in terms of pursuit of moral value. In both cases there are things to be said about how to weave these strands of Lewis's thought together. After setting out these two apparent tensions in Lewis's thought about ethics, the paper discusses what a Lewisian could best say about these puzzles. Lewisians do have a number of plausible options for dealing with the first challenge. While there are things a Lewisian could attempt to extend Lewis's moral naturalism in a way that could deal with the second challenge, it is harder to see how to do this in a satisfying way. Attention then turns to what Lewis said in his letters on these topics: on that basis, perhaps Lewis was close to being an agent-relative consequentialist after all. (shrink)

We discuss cases where subjects seem to enjoy conscious experience when the relevant first-order perceptual representations are either missing or too weak to account for the experience. Though these cases are originally considered to be theoretical possibilities that may be problematical for the higher-order view of consciousness, careful considerations of actual empirical examples suggest that this strategy may backfire; these cases may cause more trouble for first-order theories instead. Specifically, these cases suggest that (I) recurrent feedback loops to V1 are (...) most likely not the neural correlate of first-order representations for conscious experience, (II) first-order views seem to have a problem accounting for the phenomenology in these cases, and either (III) a version of the ambitious higher-order approach is superior in that it is the simplest theory that can account for all results at face value, or (IV) a view where phenomenology is jointly determined by both first-order and higher-order states. In our view (III) and (IV) are both live options and the decision between them may ultimately be an empirical question that cannot yet be decided. (shrink)

A study is reported testing two hypotheses about a close parallel relation between indicative conditionals, if A then B , and conditional bets, I bet you that if A then B . The first is that both the indicative conditional and the conditional bet are related to the conditional probability, P(B|A). The second is that de Finetti's three-valued truth table has psychological reality for both types of conditional— true , false , or void for indicative conditionals and win , lose (...) , or void for conditional bets. The participants were presented with an array of chips in two different colours and two different shapes, and an indicative conditional or a conditional bet about a random chip. They had to make judgements in two conditions: either about the chances of making the indicative conditional true or false or about the chances of winning or losing the conditional bet. The observed distributions of responses in the two conditions were generally related to the conditional probability, supporting the first hypothesis. In addition, a majority of participants in further conditions chose the third option, “void”, when the antecedent of the conditional was false, supporting the second hypothesis. (shrink)

Thick concepts, namely those concepts that describe and evaluate simultaneously, present a challenge to science. Since science does not have a monopoly on value judgments, what is responsible research involving such concepts? Using measurement of wellbeing as an example, we first present the options open to researchers wishing to study phenomena denoted by such concepts. We argue that while it is possible to treat these concepts as technical terms, or to make the relevant value judgment in-house, the responsible (...) thing to do, especially in the context of public policy, is to make this value judgment through a legitimate political process that includes all the stakeholders of this research. We then develop a participatory model of measurement based on the ideal of co-production. To show that this model is feasible and realistic, we illustrate it with a case study of co-production of a concept of thriving conducted by the authors in collaboration with a UK anti-poverty charity Turn2us. (shrink)

This paper advocates a generalized form of Expressivism, as a strategy for resolving certain metasemantic puzzles about identifying the semantic value of a context-sensitive expression in context. According to this form of Expressivism, speakers express properties of semantic parameters, and they do so in order to proffer those properties for cognitive adoption (acceptance) by their addressees. Puzzles arising from the pressure to say what a putatively context-sensitive expression refers to or denotes in contexts that do not seem to specify (...) a referent or denotation dissolve, once we appreciate that such attempts were ill-placed to begin with. Gibbard's Norm Expressivism, according to which speakers express properties of planning states or normative systems, can be regarded as a branch of this more general theory. I will however argue that Gibbard takes on commitments -- optional for the Expressivist -- that make it a bit hard to see how to distinguish his theory from a nuanced form of Subjectivism. (shrink)

Authors critical of corporate power focus almost exclusively on one solution: bringing it under democratic control. However important this is, there are at least two other options, which are rarely discussed: reducing powerful firms’ size and influence, or accepting corporate power as a necessary evil. This article provides a comparative perspective for evaluating all three options. It argues that the trade-offs we face in responding to corporate power have a trilemmatic structure. The pure strategies of accepting powerful firms, breaking them (...) up, or rendering them more accountable are each incompatible with one of three important values: power balance, economies of scale, and minimizing agency costs, respectively. While the latter two concepts are purely economic and efficiency-based, the value of power balance can be grounded in a variety of reasons. Different normative interpretations of power balance are discussed, along with their implications for policy choices within the trilemma. (shrink)