Results for 'utilities'

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  1. Taking Stock of Infinite Value: Pascal’s Wager and Relative Utilities.Paul Bartha - 2007 - Synthese 154 (1):5-52.
    Among recent objections to Pascal's Wager, two are especially compelling. The first is that decision theory, and specifically the requirement of maximizing expected utility, is incompatible with infinite utility values. The second is that even if infinite utility values are admitted, the argument of the Wager is invalid provided that we allow mixed strategies. Furthermore, Hájek has shown that reformulations of Pascal's Wager that address these criticisms inevitably lead to arguments that are philosophically unsatisfying and historically unfaithful. Both the objections (...)
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  2. Context-Dependent Utilities.Haim Gaifman & Yang Liu - 2015 - In Wiebe Van Der Hoek, Wesley H. Holliday & Wen Fang Wang (eds.), Logic, Rationality, and Interaction. Springer. pp. 90-101.
    Savage's framework of subjective preference among acts provides a paradigmatic derivation of rational subjective probabilities within a more general theory of rational decisions. The system is based on a set of possible states of the world, and on acts, which are functions that assign to each state a consequence€. The representation theorem states that the given preference between acts is determined by their expected utilities, based on uniquely determined probabilities (assigned to sets of states), and numeric utilities assigned (...)
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  3.  78
    Infinite Prospects.Jeffrey Sanford Russell & Yoaav Isaacs - forthcoming - Philosophy and Phenomenological Research.
    People with the kind of preferences that give rise to the St. Petersburg paradox are problematic---but not because there is anything wrong with infinite utilities. Rather, such people cannot assign the St. Petersburg gamble any value that any kind of outcome could possibly have. Their preferences also violate an infinitary generalization of Savage's Sure Thing Principle, which we call the *Countable Sure Thing Principle*, as well as an infinitary generalization of von Neumann and Morgenstern's Independence axiom, which we call (...)
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  4. A Simpler and More Realistic Subjective Decision Theory.Haim Gaifman & Yang Liu - 2018 - Synthese 195 (10):4205--4241.
    In his classic book “the Foundations of Statistics” Savage developed a formal system of rational decision making. The system is based on (i) a set of possible states of the world, (ii) a set of consequences, (iii) a set of acts, which are functions from states to consequences, and (iv) a preference relation over the acts, which represents the preferences of an idealized rational agent. The goal and the culmination of the enterprise is a representation theorem: Any preference relation that (...)
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  5. Explaining Evidence Denial as Motivated Pragmatically Rational Epistemic Irrationality.Michael J. Shaffer - 2019 - Metaphilosophy 50 (4):563-579.
    This paper introduces a model for evidence denial that explains this behavior as a manifestation of rationality and it is based on the contention that social values (measurable as utilities) often underwrite these sorts of responses. Moreover, it is contended that the value associated with group membership in particular can override epistemic reason when the expected utility of a belief or belief system is great. However, it is also true that it appears to be the case that it is (...)
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  6.  95
    A Representation Theorem for Frequently Irrational Agents.Edward Elliott - 2017 - Journal of Philosophical Logic 46 (5):467-506.
    The standard representation theorem for expected utility theory tells us that if a subject’s preferences conform to certain axioms, then she can be represented as maximising her expected utility given a particular set of credences and utilities—and, moreover, that having those credences and utilities is the only way that she could be maximising her expected utility. However, the kinds of agents these theorems seem apt to tell us anything about are highly idealised, being always probabilistically coherent with infinitely (...)
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  7. A Reconsideration of the Harsanyi–Sen–Weymark Debate on Utilitarianism.Hilary Greaves - 2016 - Utilitas:1-39.
    Harsanyi claimed that his Aggregation and Impartial Observer Theorems provide a justification for utilitarianism. This claim has been strongly resisted, notably by Sen and Weymark, who argue that while Harsanyi has perhaps shown that overall good is a linear sum of individuals’ von Neumann-Morgenstern utilities, he has done nothing to establish any con- nection between the notion of von Neumann-Morgenstern utility and that of well-being, and hence that utilitarianism does not follow. The present article defends Harsanyi against the Sen-Weymark (...)
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  8. Infinite Prospects.Jeffrey Sanford Russell & Yoaav Isaacs - forthcoming - Philosophy and Phenomenological Research.
    People with the kind of preferences that give rise to the St. Petersburg paradox are problematic---but not because there is anything wrong with infinite utilities. Rather, such people cannot assign the St. Petersburg gamble any value that any kind of outcome could possibly have. Their preferences also violate an infinitary generalization of Savage's Sure Thing Principle, which we call the *Countable Sure Thing Principle*, as well as an infinitary generalization of von Neumann and Morgenstern's Independence axiom, which we call (...)
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  9. Surreal Decisions.Eddy Keming Chen & Daniel Rubio - 2020 - Philosophy and Phenomenological Research 100 (1):54-74.
    Although expected utility theory has proven a fruitful and elegant theory in the finite realm, attempts to generalize it to infinite values have resulted in many paradoxes. In this paper, we argue that the use of John Conway's surreal numbers shall provide a firm mathematical foundation for transfinite decision theory. To that end, we prove a surreal representation theorem and show that our surreal decision theory respects dominance reasoning even in the case of infinite values. We then bring our theory (...)
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  10.  58
    How Not to Make Trade-Offs Between Health and Other Goods.Antti Kauppinen - manuscript
    In the context of a global pandemic, there is good health-based reason for governments to impose various social distancing measures. However, in addition to health benefits, such measures also cause economic and other harms. In this paper, I look at proposals to make use of existing QALY (quality-adjusted life year) valuations and WELLBYs (wellbeing-adjusted life-years) as the currency for making trade-offs between health and other goods. I argue that both methods are problematic. First, whether the costs and benefits are translated (...)
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  11. Pure Time Preference in Intertemporal Welfare Economics.J. Paul Kelleher - 2017 - Economics and Philosophy 33 (3):441-473.
    Several areas of welfare economics seek to evaluate states of affairs as a function of interpersonally comparable individual utilities. The aim is to map each state of affairs onto a vector of individual utilities, and then to produce an ordering of these vectors that can be represented by a mathematical function assigning a real number to each. When this approach is used in intertemporal contexts, a central theoretical question concerns the evaluative weight to be applied to utility coming (...)
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  12. Representation Theorems and the Foundations of Decision Theory.Christopher J. G. Meacham & Jonathan Weisberg - 2011 - Australasian Journal of Philosophy 89 (4):641 - 663.
    Representation theorems are often taken to provide the foundations for decision theory. First, they are taken to characterize degrees of belief and utilities. Second, they are taken to justify two fundamental rules of rationality: that we should have probabilistic degrees of belief and that we should act as expected utility maximizers. We argue that representation theorems cannot serve either of these foundational purposes, and that recent attempts to defend the foundational importance of representation theorems are unsuccessful. As a result, (...)
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  13. Spurious Unanimity and the Pareto Principle.Philippe Mongin - 2016 - Economics and Philosophy 32 (3):511-532.
    The Pareto principle states that if the members of society express the same preference judgment between two options, this judgment is compelling for society. A building block of normative economics and social choice theory, and often borrowed by contemporary political philosophy, the principle has rarely been subjected to philosophical criticism. The paper objects to it on the ground that it indifferently applies to those cases in which the individuals agree on both their expressed preferences and their reasons for entertaining them, (...)
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  14. Expected Comparative Utility Theory: A New Theory of Rational Choice.David Robert - 2018 - Philosophical Forum 49 (1):19-37.
    This paper proposes a new theory of rational choice, Expected Comparative Utility (ECU) Theory. It is first argued that for any decision option, a, and any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility of a in G – that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this principle, it is then argued, roughly (...)
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  15. Wagering Against Divine Hiddenness.Elizabeth Jackson - 2016 - European Journal for Philosophy of Religion 8 (4):85-108.
    J.L. Schellenberg argues that divine hiddenness provides an argument for the conclusion that God does not exist, for if God existed he would not allow non-resistant non-belief to occur, but non-resistant non-belief does occur, so God does not exist. In this paper, I argue that the stakes involved in theistic considerations put pressure on Schellenberg’s premise that non-resistant non-belief occurs. First, I specify conditions for someone’s being a resistant non-believer. Then, I argue that many people fulfill these conditions because, given (...)
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  16. Egalitarianism and the Separateness of Persons.Alex Voorhoeve & Marc Fleurbaey - 2012 - Utilitas 24 (3):381-398.
    The difference between the unity of the individual and the separateness of persons requires that there be a shift in the moral weight that we accord to changes in utility when we move from making intrapersonal tradeoffs to making interpersonal tradeoffs. We examine which forms of egalitarianism can, and which cannot, account for this shift. We argue that a form of egalitarianism which is concerned only with the extent of outcome inequality cannot account for this shift. We also argue that (...)
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  17. The Aggregation of Propositional Attitudes: Towards a General Theory.Franz Dietrich & Christian List - 2010 - Oxford Studies in Epistemology 3.
    How can the propositional attitudes of several individuals be aggregated into overall collective propositional attitudes? Although there are large bodies of work on the aggregation of various special kinds of propositional attitudes, such as preferences, judgments, probabilities and utilities, the aggregation of propositional attitudes is seldom studied in full generality. In this paper, we seek to contribute to filling this gap in the literature. We sketch the ingredients of a general theory of propositional attitude aggregation and prove two new (...)
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  18. The Descent of Preferences.David Spurrett - manuscript
    [A slightly revised version of this paper has been accepted by the BJPS] More attention has been devoted to providing evolutionary scenarios accounting for the development of beliefs, or belief-like states, than for desires or preferences. Here I articulate and defend an evolutionary rationale for the development of psychologically real preference states. Preferences token or represent the expected values of discriminated states, available actions, or action-state pairings. The argument is an application the ‘environmental complexity thesis’ found in Godfrey-Smith and Sterelny, (...)
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  19. Pascal’s Wager and the Origins of Decision Theory: Decision-Making by Real Decision-Makers.James Franklin - 2018 - In Paul Bartha & Lawrence Pasternack (eds.), Pascal's Wager. Cambridge: Cambridge University Press. pp. 27-44.
    Pascal’s Wager does not exist in a Platonic world of possible gods, abstract probabilities and arbitrary payoffs. Real decision-makers, such as Pascal’s “man of the world” of 1660, face a range of religious options they take to be serious, with fixed probabilities grounded in their evidence, and with utilities that are fixed quantities in actual minds. The many ingenious objections to the Wager dreamed up by philosophers do not apply in such a real decision matrix. In the situation Pascal (...)
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  20. Why Data Privacy is Key To a Smart Energy Future.Carissa Véliz & Philipp Grunewald - 2018 - Nature Energy 3:702-704.
    The ability to collect fine-grained energy data from smart meters has benefits for utilities and consumers. However, a proactive approach to data privacy is necessary to maximize the potential of these data to support low-carbon energy systems, and innovative business models.
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  21. A New Problem with Mixed Decisions, Or: You’Ll Regret Reading This Article, But You Still Should.Benjamin Plommer - 2016 - Erkenntnis 81 (2):349-373.
    Andy Egan recently drew attention to a class of decision situations that provide a certain kind of informational feedback, which he claims constitute a counterexample to causal decision theory. Arntzenius and Wallace have sought to vindicate a form of CDT by describing a dynamic process of deliberation that culminates in a “mixed” decision. I show that, for many of the cases in question, this proposal depends on an incorrect way of calculating expected utilities, and argue that it is therefore (...)
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  22.  17
    General Representation of Epistemically Optimal Procedures.Franz Dietrich - 2006 - Social Choice and Welfare 2 (26):263-283.
    Assuming that votes are independent, the epistemically optimal procedure in a binary collective choice problem is known to be a weighted supermajority rule with weights given by personal log-likelihood-ratios. It is shown here that an analogous result holds in a much more general model. Firstly, the result follows from a more basic principle than expected-utility maximisation, namely from an axiom (Epistemic Monotonicity) which requires neither utilities nor prior probabilities of the ‘correctness’ of alternatives. Secondly, a person’s input need not (...)
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  23. Don’T Be an Ass: Rational Choice and its Limits.Marc Champagne - 2015 - Reason Papers 37 (1):137-147.
    Deliberation is often seen as the site of human freedom, but the binding power of rationality seems to imply that deliberation is, in its own way, a deterministic process. If one knows the starting preferences and circumstances of an agent, then, assuming that the agent is rational and that those preferences and circumstances don’t change, one should be in a position to predict what the agent will decide. However, given that an agent could conceivably confront equally attractive alternatives, it is (...)
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  24. Utilitarianism and the Moral Significance of an Individual.James Cain - 2005 - Southwest Philosophy Review 21 (1):53-60.
    Classical utilitarianism attempts to reduce the moral significance of the individual to something more basic: the value of the individual is seen as fully grounded in considerations of utility maximization. This paper criticizes this aspect of utilitarianism and tries to do so through an appeal to considerations that would be acceptable to one who embraces utilitarianism. First, an example is developed in which (1) a pair of mutually exclusive actions each yield infinite utility; (2) neither action can be said to (...)
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  25. On Arguments From Self-Interest for the Nash Solution and the Kalai Egalitarian Solution to the Bargaining Problem.Luc Bovens - 1987 - Theory and Decision 23 (3):231-260.
    I argue in this paper that there are two considerations which govern the dynamics of a two-person bargaining game, viz. relative proportionate utility loss from conceding to one's opponent's proposal and relative non-proportionate utility loss from not conceding to one's opponent's proposal, if she were not to concede as well. The first consideration can adequately be captured by the information contained in vNM utilities. The second requires measures of utility which allow for an interpersonal comparison of utility differences. These (...)
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  26.  60
    What Makes Health Care Special?: An Argument for Health Care Insurance.L. Chad Horne - 2017 - Kennedy Institute of Ethics Journal 27 (4):561-587.
    Citizens in wealthy liberal democracies are typically expected to see to basic needs like food, clothing, and shelter out of their own income, and those without the means to do so usually receive assistance in the form of cash transfers. Things are different with health care. Most liberal societies provide their citizens with health care or health care insurance in kind, either directly from the state or through private insurance companies that are regulated like public utilities. Except perhaps for (...)
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  27.  44
    Status of Big Data In Internet of Things: A Comprehensive Overview.Peter Alphonce & Lusekelo Kibona - 2018 - International Journal of Academic Multidisciplinary Research (IJAMR) 2 (3):5-9.
    Abstract: Reports suggests that total amount of data generated everyday reaches 2.5 quintillion bytes [9], annual global IP traffic run rate in 2016 was 1.2 zettabytes and will reach 3.3 zettabytes by 2021 [12]. According to Gartner [25], Internet of Things excluding personal computers, tablets and smartphones will grow to 26 billion units of installed devices in year 2020. This results from penetration of digital applications which highly motivated by smart societies which can be defined as to when a society (...)
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  28.  44
    Influence of Non-Monetary Information Signals of the USA on the Ukrainian Stock Market Volatility.Roman Pavlov, Tatyana Pavlova, Anna Lemberg, Oksana Levkovich & Iryna Kurinna - 2019 - Investment Management and Financial Innovations 16 (1):319-333.
    The Ukrainian PFTS stock index volatility reaction as a whole and its constituent economic sectors (“Basic Materials”, “Financials”, “Industrials”, “Oil & Gas”, “Telecommunications”, “Utilities”) to seven non-monetary US information signals (“Consumer price index”, “Personal spending”, “Unemployment rate”, “Gross domestic product”, “Industrial production”, “Consumer confidence”, “Housing starts”) was carried out for the period 2000–2017 on the basis of closing stock quotations in the trading day format. To assess the “surprise” component direct influence nature of the USA selected non-monetary information signals (...)
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  29. Against Hirose's Argument for Saving the Greater Number.Dong-Kyung Lee - 2016 - Journal of Ethics and Social Philosophy (2):1-7.
    Faced with the choice between saving one person and saving two others, what should we do? It seems intuitively plausible that we ought to save the two, and many forms of consequentialists offer a straightforward rationale for the intuition by appealing to interpersonal aggregation. But still many other philosophers attempt to provide a justification for the duty to save the greater number without combining utilities or claims of separate individuals. I argue against one such attempt proposed by Iwao Hirose. (...)
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  30.  77
    Mysterıes of Worshıps in Qadı Burhanadden’s Work of Ikseer As-Saadat.Nizamettin Karataş - 2018 - Tasavvur - Tekirdag Theology Journal 4 (1):123 - 165.
    İksîrü’s-seâdât fî esrâri’l-İbâdât was written by Burhaneddin Ahmed es-Sivasî who is one of the most important figures of Turkish Islamic history and a scholar, sufi, poet, judge and ruler on the year h.798/m.1396 in Sivas. In this book, mysteries of the worship are explained after three complementary introductory chapters regarding the conception of being. The author first deals with the being, its nature and its reason in order to clarify the mysteries of the worship in human mind with a meaningful (...)
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