Satisficing Consequentialism Author(S): Michael Slote and Philip Pettit Source: Proceedings of the Aristotelian Society, Supplementary Volumes, Vol
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1 of 3 Ethics: Consequentialism-Utilitarianism Ethics Script: Consequentialism & Utilitarianism Slide 2 {Introduction To
Ethics Script: Consequentialism & Utilitarianism slide 2 {Introduction to the Theory of Consequentialism} There are two basic principles within the theory of consequentialism: (1) an action’s ethicality depends only on the results of that action, and (2) the more “good” (and less harmful) results an action produces, the better (or more right) the act is. You already know the basic idea behind this concept as “the end justifies the means.” slide 3 {How it Works… and Doesn’t Work} While actions tend to be brief and immediate, the consequences of those actions can have long-term—even permanent—effects. A consequentialist would expect that you (and everyone else) consider the implications of your actions in terms of a “good” or “right” outcome. Consequentialism itself doesn’t define which consequences are “good.” It’s up to you to decide what is right and wrong on a personal basis. Two consequentialists can look at the same choice and completely disagree on the action that should be taken… like in the case of an assisted suicide or how to deal with a pandemic. But they are more likely to agree on what kind of action should be taken in order to help a lost child so some actions are easier to agree on than others. slide 4 {Utilitarianism a Model of Consequentialism and Introduction to Mr. Bentham} The most popular consequentialist model, Utilitarianism, accounts for ambiguities that consequentialism alone does not. Utilitarianism emerged in the early 19th century with British philosopher and “hedonist” Jeremy Bentham, who aimed to assess whether or not Parliament was passing fair and ethical laws at the time. -
SEF Working Paper: 11/2012 April 2012
SEF Working paper: 11/2012 April 2012 Behavioural economics perspectives: Implications for policy and financial literacy Morris Altman The Working Paper series is published by the School of Economics and Finance to provide staff and research students the opportunity to expose their research to a wider audience. The opinions and views expressed in these papers are not necessarily reflective of views held by the school. Comments and feedback from readers would be welcomed by the author(s). Enquiries to: The Administrator School of Economics and Finance Victoria University of Wellington P O Box 600 Wellington 6140 New Zealand Phone: +64 4 463 5353 Email: [email protected] Working Paper 11/2012 ISSN 2230-259X (Print) ISSN 2230-2603 (Online) Behavioural Economics Perspectives: Implications for Policy and Financial Literacy* Morris Altman Professor of Behavioural and Institutional Economics Head, School of Economics & Finance Victoria University of Wellington Editor, Journal of Socio-Economics (Elsevier Science) Email: [email protected] Homepage: http://www.victoria.ac.nz/sef/about/staff/morris-altman Amazon page: http://www.amazon.com/Morris-Altman/e/B001H6N3V4 Keywords: Financial literacy, behavioral economics, imperfect information, heuristics, trust, nudging, decision-making environment JEL Codes: A11, B26, B41, D00, D14, D62, D8, H4, K4 *Originally appears as a Research paper prepared for the Task Force on Financial Literacy (Canada): http://publications.gc.ca/collections/collection_2011/fin/F2-202-2011-eng.pdf 1 Behavioural Economics Perspectives: Implications for Policy and Financial Literacy* Morris Altman Executive Summary This paper summarizes and highlights different approaches to behavioural economics. It includes a discussion of the differences between the “old” behavioural economics school, led by scholars like Herbert Simon, and the “new” behavioural economics, which builds on the work of Daniel Kahneman and Amos Tversky and is best exemplified by Richard Thaler and Cass Sunstein’s recent book, Nudge. -
Why Retributivism Needs Consequentialism: the Rightful Place of Revenge in the Criminal Justice System
Louisiana State University Law Center LSU Law Digital Commons Journal Articles Faculty Scholarship 2014 Why Retributivism Needs Consequentialism: The Rightful Place of Revenge in the Criminal Justice System Ken Levy Louisiana State University Law Center, [email protected] Follow this and additional works at: https://digitalcommons.law.lsu.edu/faculty_scholarship Part of the Law Commons Repository Citation Levy, Ken, "Why Retributivism Needs Consequentialism: The Rightful Place of Revenge in the Criminal Justice System" (2014). Journal Articles. 67. https://digitalcommons.law.lsu.edu/faculty_scholarship/67 This Article is brought to you for free and open access by the Faculty Scholarship at LSU Law Digital Commons. It has been accepted for inclusion in Journal Articles by an authorized administrator of LSU Law Digital Commons. For more information, please contact [email protected]. Forthcoming in Rutgers L. Rev. (spring 2014) Why Retributivism Needs Consequentialism: The Rightful Place of Revenge in the Criminal Justice System KEN LEVY* TABLE OF CONTENTS I. Introduction ..................................................................................................... 2 II. The Main Goals of the Criminal Justice System ....................................... 10 A. The First Primary Goal of the Criminal Justice System: Crime Minimization ................................................................................................. 11 B. The Second Primary Goal of the Criminal Justice System: Retribution .................................................................................................... -
The Evolutionary Biology of Decision Making
University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Faculty Publications, Department of Psychology Psychology, Department of 2008 The Evolutionary Biology of Decision Making Jeffrey R. Stevens University of Nebraska-Lincoln, [email protected] Follow this and additional works at: https://digitalcommons.unl.edu/psychfacpub Part of the Psychiatry and Psychology Commons Stevens, Jeffrey R., "The Evolutionary Biology of Decision Making" (2008). Faculty Publications, Department of Psychology. 523. https://digitalcommons.unl.edu/psychfacpub/523 This Article is brought to you for free and open access by the Psychology, Department of at DigitalCommons@University of Nebraska - Lincoln. It has been accepted for inclusion in Faculty Publications, Department of Psychology by an authorized administrator of DigitalCommons@University of Nebraska - Lincoln. Published in BETTER THAN CONSCIOUS? DECISION MAKING, THE HUMAN MIND, AND IMPLICATIONS FOR INSTITUTIONS, ed. Christoph Engel and Wolf Singer (Cambridge, MA: The MIT Press, 2008), pp. 285-304. Copyright 2008 Massachusetts Institute of Technology & the Frankfurt Institute for Advanced Studies. Used by permission. 13 The Evolutionary Biology of Decision Making Jeffrey R. Stevens Center for Adaptive Behavior and Cognition, Max Planck Institute for Human Development, 14195 Berlin, Germany Abstract Evolutionary and psychological approaches to decision making remain largely separate endeavors. Each offers necessary techniques and perspectives which, when integrated, will aid the study of decision making in both humans and nonhuman animals. The evolutionary focus on selection pressures highlights the goals of decisions and the con ditions under which different selection processes likely influence decision making. An evolutionary view also suggests that fully rational decision processes do not likely exist in nature. -
John Stuart Mill's Sanction Utilitarianism
JOHN STUART MILL’S SANCTION UTILITARIANISM: A PHILOSOPHICAL AND HISTORICAL INTERPRETATION A Dissertation by DAVID EUGENE WRIGHT Submitted to the Office of Graduate and Professional Studies of Texas A&M University in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY Chair of Committee, Linda Radzik Committee Members, Clare Palmer Scott Austin R.J.Q. Adams Head of Department, Gary Varner May 2014 Major Subject: Philosophy Copyright 2014 David Eugene Wright ABSTRACT This dissertation argues for a particular interpretation of John Stuart Mill’s utilitarianism, namely that Mill is best read as a sanction utilitarian. In general, scholars commonly interpret Mill as some type of act or rule utilitarian. In making their case for these interpretations, it is also common for scholars to use large portions of Mill’s Utilitarianism as the chief source of insight into his moral theory. By contrast, I argue that Utilitarianism is best read as an ecumenical text where Mill explains and defends the general tenets of utilitarianism rather than setting out his own preferred theory. The exception to this ecumenical approach to the text comes in the fifth chapter on justice which, I argue on textual and historical grounds, outlines the central features of Mill’s utilitarianism. With this understanding of Utilitarianism in place, many of the passages commonly cited in favor of the previous interpretations are rendered less plausible, and interpretations emphasizing Mill’s other writings are strengthened. Using this methodology, I critique four of the most prominent act or rule utilitarian interpretations of Mill’s moral theory. I then provide an interpretation of Mill’s theory of moral obligation and utilitarianism. -
Consequentialism and Moral Responsibility
Consequentialism and Moral Responsibility Draft of September 2015 Elinor Mason For Christian Seidel (ed.) Consequentialism: new directions, new problems? OUP, forthcoming. There are two different ways of thinking about the relationship between consequentialism and moral responsibility. First, we might think that consequentialism can give us an account of responsibility. I discuss this possibility briefly, and then set it aside. The other way of thinking about the relationship is the focus of this paper. The question that concerns me, is, to what extent is a normative theory, consequentialism in particular, constrained by requirements that stem from concerns about responsibility? 1. Consequentialist Accounts of Moral Responsibility J.J.C. Smart suggests that we can extend consequentialist reasoning about morality to reasoning about responsibility. One of the attractions of consequentialism is that it provides such a straightforward and attractive account of justification for our moral practices. Why do we pay our taxes, treat each other with respect, look after each other and so on? Because doing so has good consequences. However, this sort of justification, though very appealing when considering moral practice, becomes extremely counterintuitive in other sorts of case. For example, it seems obvious that justification for beliefs cannot be consequentialist. Beliefs must be justified in some way that relates to their truth, though of course there is disagreement about exactly what makes a belief justified. Similarly, so a familiar line of thought goes, whether or not someone is responsible for an act, or for anything else, cannot be determined by looking at the consequences of holding them responsible. The claim that 1 responsibility can be understood in a consequentialist way seems like a category mistake.1 Smart’s view might be correct that, insofar as praising and blaming are actions, consequentialists should take the value of the consequences of performing those acts as the relevant factor in deciding whether or not to perform them. -
Mechanism Design: Lecture 4 Fair Division
Mechanism Design: lecture 4 Fair Division Fedor Sandomirskiy March 27, 2021 Higher School of Economics, St.Petersburg e-mail: [email protected] 1 Motivation Auctions = simple and efficient way to distribute resources. Why do we need something else? Monetary transactions may be ruled out by • ethical reasons. Bias towards richest ) repugnant Examples: government programs (education, social housing), charity, organ transplants • institutional reasons. Who is auctioneer? Examples: division of a common property (partners dissolving their partnership, inheritance), allocation of tasks or resources within the firm (office space, IT facilities, bonuses), division of a common surplus among business-partners How to distribute resources if we can't auction them? What is fairness and how to take it into account? 2 Motivation Auctions = simple and efficient way to distribute resources. Why do we need something else? Monetary transactions may be ruled out by • ethical reasons. Bias towards richest ) repugnant Examples: government programs (education, social housing), charity, organ transplants • institutional reasons. Who is auctioneer? Examples: division of a common property (partners dissolving their partnership, inheritance), allocation of tasks or resources within the firm (office space, IT facilities, bonuses), division of a common surplus among business-partners How to distribute resources if we can't auction them? What is fairness and how to take it into account? 2 Motivation Auctions = simple and efficient way to distribute resources. Why do we need -
Kahneman's Thinking, Fast and Slow from the Standpoint of Old
Kahneman’s Thinking, Fast and Slow from the Standpoint of Old Behavioural Economics (For the 2012 HETSA Conference) Peter E. Earl School of Economics, University of Queensland, St Lucia, Brisbane, QLD 4072, Australia, email: [email protected] Abstract Daniel Kahneman’s bestseller Thinking, Fast and Slow presents an account of his life’s work on judgment and decision-making (much of it conducted with Amos Tversky) that has been instrumental in the rise of what Sent (2004) calls ‘new behavioural economics’. This paper examines the relationship between Kahneman’s work and some key contributions within the ‘old behavioural’ literature that Kahneman fails to discuss. It show how closely aligned he is to economic orthodoxy, examining his selective use of Herbert Simon’s work in relation to his ‘two systems’ view of decision making and showing how Shackle’s model of choice under uncertainty provided an alternative way of dealing with some of the issues that Kahneman and Tversky sought to address, three decades after Shackle worked out his model, via their Prospect Theory. Aside from not including ‘loss aversion’, it was Shackle’s model that was the more original and philosophically well-founded. Keywords: Prospect Theory, satisficing, bounded rationality, choice under uncertainty JEL Classification Codes: B31, D03, D81 1. Introduction In his highly successful 2011 book Thinking, Fast and Slow Daniel Kahneman offers an excellent account of his career-long research on judgment and decision- making, much of it conducted with the late Amos Tversky. Kahneman was awarded the 2002 Bank of Sweden PriZe in Economic Sciences in Memory of Alfred Nobel for this work. -
Alienation, Consequentialism, and the Demands of Morality,” Peter Railton Introduces an Approach to Consequentialism That Has Since Become Influential
1 Sophisticated Consequentialism and Psychological Coherence In “Alienation, Consequentialism, and the Demands of Morality,” Peter Railton introduces an approach to consequentialism that has since become influential. 1 His approach, which he calls ‘sophisticated consequentialism’, claims that a consequentialist ought to be motivated by whichever set of motivations will in fact lead to maximizing value, instead of being motivated to directly maximize value. As a result, a consequentialist might maximize value by having dispositions to commit acts that may not themselves maximize value. I concern myself here with the psychological tension that might exist in a person with such apparently conflicting commitments: how may a person that is, on one hand, committed to believing that consequences determine how people ought to act, on the other hand, be motivated to generally act in ways that pay no direct attention to consequences? In particular, I will argue that, on Railton's picture, a consequentialist must pay attention to two distinct and inconsistent sets of reasons. First, it is difficult to see how a person can really make decisions in that way, and second, a person situated in the way Railton imagines is not actually in a position to maximize value. But before I get to a more rigorous statement of what I will call the criticism from psychological incoherence, I need to lay the scene. The criticism from psychological incoherence is related to another objection to which Railton was directly responding, the alienation objection. I first set out this objection before moving to a statement of sophisticated consequentialism that handles the alienation objection. -
Advantages & Disadvantages of Consequential Ethics
CONSEQUENTIAL ETHICS: SUMMARY (c) 2019 www.prshockley.org Dr. Paul R Shockley What about Consequences? Significant Types of Utilitarianism: Utilitarianism: The right action is what brings about the greatest good Consequential Ethics (CE): An action is right iff it promotes the 1. Consequentialism = whether an act is morally to the greatest number in the long run. Here are different types of best consequences. The best consequences are those in which right depends only on consequences (not utilitarianism: “happiness” is maximized. Central question: what actions will circumstances, the intrinsic nature of the act, or 1. Hedonistic Utilitarianism: maximize Pleasure & minimalize pain. generate the best consequences? This family of outcome based anything that happens before the act). approaches are varied but two, in particular, heed our attention, 2. Act Utilitarianism: an act should be judged by its results. namely, the utilitarianism of Jeremy Bentham (1748-1832) & John 2. Actual Consequentialism = whether an act is 3. Rule Utilitarianism: an act is right iff it follows the rules that promotes Stuart Mill (1806-1873) & egoism or objectivism of Ayn Rand morally right depends only on the actual the best consequences. Ethical rules are chosen in view of the anticipated (1905-1982). Consequential ethics is also referred to as teleological consequences (not foreseen, foreseeable, intended, results flowing from keeping those rules. ethics hence, Greek word teleos, meaning “having reached one’s or likely consequences). 4. Priority Utilitarianism: maximize the achievement of people’s priorities-it is for each person to decide what constitutes personal end” or “goal directed.” This summary centers on utilitarianism. 3. Direct Consequentialism = whether an act is happiness (R.M. -
The Case for Utilitarian Voting
Hillinger, Claude: The Case for Utilitarian Voting Munich Discussion Paper No. 2005-11 Department of Economics University of Munich Volkswirtschaftliche Fakultät Ludwig-Maximilians-Universität München Online at https://doi.org/10.5282/ubm/epub.653 THE CASE FOR UTILITARIAN VOTING Claude Hillinger* ABSTRACT Utilitarian voting (UV) is defined in this paper as any voting rule that allows the voter to rank all of the alternatives by means of the scores permitted under a given voting scale. Specific UV rules that have been proposed are approval voting, allowing the scores 0, 1; range voting, allowing all numbers in an interval as scores; evaluative voting, allowing the scores -1, 0, 1. The paper deals extensively with Arrow’s impossibility theorem that has been interpreted as precluding a satisfactory voting mechanism. I challenge the relevance of the ordinal framework in which that theorem is expressed and argue that instead utilitarian, i.e. cardinal social choice theory is relevant for voting. I show that justifications of both utilitarian social choice and of majority rule can be modified to derive UV. The most elementary derivation of UV is based on the view that no justification exists for restricting voters’ freedom to rank the alternatives on a given scale. JEL Classification: D71, D72 May 2005 Key words: approval voting, Arrow’s impossibility theorem, cardinal collective choice, evaluative voting, majority rule, range voting, utilitarian voting *SEMECON University of Munich Ludwigstr. 33/IV D-80539 Munich Germany E-mail: [email protected] 2 1. INTRODUCTION Under utilitarian voting (UV) a voter can score each alternative with one of the scores permitted by a given voting scale. -
The Utilitarian Approach
Confirming Pages CHAPTER 7 The Utilitarian Approach The greatest happiness of the greatest number is the foundation of morals and legislation. Jeremy Bentham, COLLECTED WORKS (1843) 7.1. The Revolution in Ethics The late 18th and 19th centuries witnessed an astonishing series of upheavals: The modern nation-state emerged from the French Revolution and the wreckage of the Napoleonic empire; the revolutions of 1848 showed the transforming power of the ideas of “liberty, equality, and fraternity”; in the New World, America was born, sporting a new kind of consti- tution; and the American Civil War (1861–1865) would finish off slavery in Western civilization. All the while, the Indus- trial Revolution was bringing about a complete restructuring of society. It is not surprising that new ideas about ethics emerged during this era. In particular, Jeremy Bentham (1748–1832) made a powerful argument for a novel conception of morality. Morality, he urged, is not about pleasing God, nor is it about being faithful to abstract rules. Rather, morality is about mak- ing the world as happy as possible. Bentham believed in one ultimate moral principle, namely, the Principle of Utility. This principle requires us, in all circumstances, to produce the most happiness that we can. Bentham was the leader of a group of philosophical radicals whose aim was to reform the laws and institutions of England along utilitarian lines. One of his followers was James Mill, the distinguished Scottish philosopher, historian, and economist. James Mill’s son, John Stuart Mill (1806–1873), would become the leading advocate of utilitarian moral theory.