Can an evidentialist be risk-averse?
Hayden Wilkonson (Global Priorities Institute, University of Oxford)
GPI Working Paper No. 21-2022
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. But there is a surprising argument that they are not. In this paper, I show that evidential decision theory implies risk neutrality, at least in moral decision-making and at least on plausible empirical assumptions. Take any risk-aversion-accommodating decision theory, apply it using the probabilities prescribed by evidential decision theory, and every verdict of moral betterness you reach will match those of expected value theory.
Other working papers
Future Suffering and the Non-Identity Problem – Theron Pummer (University of St Andrews)
I present and explore a new version of the Person-Affecting View, according to which reasons to do an act depend wholly on what would be said for or against this act from the points of view of particular individuals. According to my view, (i) there is a morally requiring reason not to bring about lives insofar as they contain suffering (negative welfare), (ii) there is no morally requiring reason to bring about lives insofar as they contain happiness (positive welfare), but (iii) there is a permitting reason to bring about lives insofar as they…
Longtermism in an Infinite World – Christian J. Tarsney (Population Wellbeing Initiative, University of Texas at Austin) and Hayden Wilkinson (Global Priorities Institute, University of Oxford)
The case for longtermism depends on the vast potential scale of the future. But that same vastness also threatens to undermine the case for longtermism: If the future contains infinite value, then many theories of value that support longtermism (e.g., risk-neutral total utilitarianism) seem to imply that no available action is better than any other. And some strategies for avoiding this conclusion (e.g., exponential time discounting) yield views that…
Meaning, medicine and merit – Andreas Mogensen (Global Priorities Institute, Oxford University)
Given the inevitability of scarcity, should public institutions ration healthcare resources so as to prioritize those who contribute more to society? Intuitively, we may feel that this would be somehow inegalitarian. I argue that the egalitarian objection to prioritizing treatment on the basis of patients’ usefulness to others is best thought…