Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
What is risk aversion?
Stockholm University, Faculty of Humanities, Department of Philosophy.
2018 (English)In: British Journal for the Philosophy of Science, ISSN 0007-0882, E-ISSN 1464-3537Article in journal (Refereed) Epub ahead of print
Abstract [en]

According to the orthodox treatment of risk preferences in decision theory, they are to be explained in terms of the agent’s desires about concrete outcomes. The orthodoxy has been criticized both for conflating two types of attitudes and for committing agents to attitudes that do not seem rationally required. To avoid these problems, it has been suggested that an agent’s attitudes to risk should be captured by a risk function that is independent of her utility and probability functions. The main problem with that approach is that it suggests that attitudes to risk are wholly distinct from people’s (non-instrumental) desires. To overcome this problem, we develop a framework where an agent’s utility function is defined over chance propositions (that is, propositions describing objective probability distributions) as well as ordinary (non-chance) ones, and argue that one should explain different risk attitudes in terms of different forms of the utility function over such propositions.

Place, publisher, year, edition, pages
2018.
National Category
Philosophy
Identifiers
URN: urn:nbn:se:su:diva-155760DOI: 10.1093/bjps/axx035OAI: oai:DiVA.org:su-155760DiVA, id: diva2:1201952
Available from: 2018-04-27 Created: 2018-04-27 Last updated: 2018-09-21

Open Access in DiVA

No full text in DiVA

Other links

Publisher's full text

Search in DiVA

By author/editor
Stefánsson, H. Orri
By organisation
Department of Philosophy
In the same journal
British Journal for the Philosophy of Science
Philosophy

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 6 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf