Attitudes toward risk are complicated: experimental evidence for the re-individuation approach to risk-attitudes

Haim Cohen, Anat Maril, Sun Bleicher, Ittay Nissan-Rozen*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

We present experimental evidence that supports the thesis (advanced recently by Stefánsson and Bradley in Philos Sci 82(4):602–625, 2015, Br J Philos Sci 70(1):77–102, 2019; Bradley in Decisions theory with a human face, Cambridge University Press, Cambridge, 2017; Goldschmidt and Nissan-Rozen in Synthese 198:7553–7575, 2021) that people might positively or negatively desire risky prospects conditional on only some of the prospects’ outcomes obtaining. We argue that this evidence has important normative implications for the central debate in normative decision theory between two general approaches on how to rationalize several common patterns of preference, which are ruled out as irrational by orthodox decision theory, namely the re-individuation approach and the non-expected utility approach.

Original languageAmerican English
Pages (from-to)2553-2577
Number of pages25
JournalPhilosophical Studies
Volume179
Issue number8
DOIs
StatePublished - Aug 2022

Bibliographical note

Publisher Copyright:
© 2022, The Author(s), under exclusive licence to Springer Nature B.V.

Keywords

  • Attitudes to risk
  • Conditional desires
  • Decision theory
  • Risk aversion

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