The unexpected value of the future
Hayden Wilkinson (Global Priorities Institute, University of Oxford)
GPI Working Paper No. 17-2022, forthcoming in Ergo
Various philosophers accept moral views that are impartial, additive, and risk-neutral with respect to betterness. But, if that risk neutrality is spelt out according to expected value theory alone, such views face a dire reductio ad absurdum. If the expected sum of value in humanity’s future is undefined—if, e.g., the probability distribution over possible values of the future resembles the Pasadena game, or a Cauchy distribution—then those views say that no real-world option is ever better than any other. And, as I argue, our evidence plausibly supports such a probability distribution. Indeed, it supports a probability distribution that cannot be evaluated even if we extend expected value theory according to one of several extensions proposed in the literature. Must we therefore reject all impartial, additive, risk-neutral moral theories? It turns out that we need not. I provide a potential solution: by adopting a strong enough extension of expected value theory, we can evaluate that problematic distribution and potentially salvage those moral views.
Other working papers
Respect for others’ risk attitudes and the long-run future – Andreas Mogensen (Global Priorities Institute, University of Oxford)
When our choice affects some other person and the outcome is unknown, it has been argued that we should defer to their risk attitude, if known, or else default to use of a risk avoidant risk function. This, in turn, has been claimed to require the use of a risk avoidant risk function when making decisions that primarily affect future people, and to decrease the desirability of efforts to prevent human extinction, owing to the significant risks associated with continued human survival. …
Moral demands and the far future – Andreas Mogensen (Global Priorities Institute, Oxford University)
I argue that moral philosophers have either misunderstood the problem of moral demandingness or at least failed to recognize important dimensions of the problem that undermine many standard assumptions. It has been assumed that utilitarianism concretely directs us to maximize welfare within a generation by transferring resources to people currently living in extreme poverty. In fact, utilitarianism seems to imply that any obligation to help people who are currently badly off is trumped by obligations to undertake actions targeted at improving the value…
Longtermism, aggregation, and catastrophic risk – Emma J. Curran (University of Cambridge)
Advocates of longtermism point out that interventions which focus on improving the prospects of people in the very far future will, in expectation, bring about a significant amount of good. Indeed, in expectation, such long-term interventions bring about far more good than their short-term counterparts. As such, longtermists claim we have compelling moral reason to prefer long-term interventions. …