Tough enough? Robust satisficing as a decision norm for long-term policy analysis
Andreas Mogensen and David Thorstad (Global Priorities Institute, Oxford University)
GPI Working Paper No. 15-2020, published in Synthese
This paper aims to open a dialogue between philosophers working in decision theory and operations researchers and engineers whose research addresses the topic of decision making under deep uncertainty. Specifically, we assess the recommendation to follow a norm of robust satisficing when making decisions under deep uncertainty in the context of decision analyses that rely on the tools of Robust Decision Making developed by Robert Lempert and colleagues at RAND. We discuss decision-theoretic and voting-theoretic motivations for robust satisficing, then use these motivations to select among candidate formulations of the robust satisficing norm. We also discuss two challenges for robust satisficing: whether the norm might in fact derive its plausibility from an implicit appeal to probabilistic representations of uncertainty of the kind that deep uncertainty is supposed to preclude; and whether there is adequate justification for adopting a satisficing norm, as opposed to an optimizing norm that is sensitive to considerations of robustness.
Other working papers
Consciousness makes things matter – Andrew Y. Lee (University of Toronto)
This paper argues that phenomenal consciousness is what makes an entity a welfare subject, or the kind of thing that can be better or worse off. I develop and motivate this view, and then defend it from objections concerning death, non-conscious entities that have interests (such as plants), and conscious subjects that necessarily have welfare level zero. I also explain how my theory of welfare subjects relates to experientialist and anti-experientialist theories of welfare goods.
Can an evidentialist be risk-averse? – Hayden Wilkinson (Global Priorities Institute, University of Oxford)
Two key questions of normative decision theory are: 1) whether the probabilities relevant to decision theory are evidential or causal; and 2) whether agents should be risk-neutral, and so maximise the expected value of the outcome, or instead risk-averse (or otherwise sensitive to risk). These questions are typically thought to be independent – that our answer to one bears little on our answer to the other. …
On two arguments for Fanaticism – Jeffrey Sanford Russell (University of Southern California)
Should we make significant sacrifices to ever-so-slightly lower the chance of extremely bad outcomes, or to ever-so-slightly raise the chance of extremely good outcomes? Fanaticism says yes: for every bad outcome, there is a tiny chance of of extreme disaster that is even worse, and for every good outcome, there is a tiny chance of an enormous good that is even better.