Discounting future costs and benefits is often defended on the ground that our descendants will be richer. Simply to treat the future as better off, however, is to commit an ecological fallacy. Even if our descendants are better off when we average across climate change scenarios, this cannot justify discounting costs and benefits in possible states of the world in which they are not. Giving due weight to catastrophe scenarios requires energetic action against climate change.

Recent evidence on intertemporal choice suggests that decision-makers may exhibit both increasing and decreasing impatience simultaneously, called inverse-S discounting. This paper introduces trichotomic discounted utility to model inverse-S discounting. Under trichotomic discounted utility the decision-maker distinguishes between short-term delays, medium-term delays, and long-term delays. Exponential discounting holds within each category, but not necessarily across each category. We provide preference foundations for trichotomic discounted utility in the timed outcomes framework and in the consumption streams framework. The key axiom (...) is a weakening of the time consistency axiom that allows for both increasing and decreasing impatience. We also consider a weak, local version of time consistency, and show that this plausible condition is satisfied only by discount functions with exponential “pieces”. (shrink)

In response to cases that involve tiny probabilities of huge payoffs, some argue that we ought to discount small probabilities down to zero. However, this paper shows that doing so violates Independence and Continuity, and as a result of these violations, those who discount small probabilities can be exploited by money pumps. Various possible ways of avoiding exploitation will be discussed. This paper concludes that the money pump for Independence undermines the plausibility of discounting small probabilities. Much of the (...) discussion on Independence generalizes to other views that also violate Independence. (shrink)

Nebel argues for the Repugnant Conclusion via the “Intrapersonal Repugnant Conclusion,” on which certainty of a mediocre life is better for individuals than a sufficiently small chance of an excellent life. In this article, I deny that acceptance of the Intrapersonal Repugnant Conclusion leads us to the Repugnant Conclusion. I point out that on many views which avoid the Repugnant Conclusion we should discount very small probabilities down to zero. If we do, then Nebel’s crucial premise of Ex Ante Pareto (...) fails, because discounting at the individual level can fail to match up with discounting at the population level. (shrink)

Humans discount rewards as a function of the delay to their receipt. This tendency is referred to as delay discounting and has been extensively researched in the last decades. The magnitude effect and the trait effect are two phenomena which have been consistently observed for a variety of reward types. Here, we wanted to investigate if these effects also occur in the context of the novel but widespread reward types of Instagram followers and likes and if delay discounting (...) of these outcomes is related to self-control and Instagram screen time. In a within-subject online experiment, 214 Instagram users chose between smaller, immediate and larger, delayed amounts of hypothetical money, Instagram followers and likes. First, we found that the magnitude effect also applies to Instagram followers and likes. Second, delay discounting of all three reward types was correlated, providing further evidence for a trait influence of delay discounting. Third, no relationships were found between delay discounting and self-control as well as Instagram screen time, respectively. However, a user’s average like count was related to delay discounting of Instagram likes. (shrink)

Time discounting is the phenomenon that a desired result in the future is perceived as less valuable than the same result now. Economic theories can take this psychological fact into account in several ways. In the economic literature the most widely used type of additive time discounting is exponential discounting. In exponential discounting, the fall of valuation depends by a constant factor on the length of the delay period. It is well known, however, that exponential time (...) discounting often does not describe well how people actually behave. Most people are averse to short delays in gratification now, while their future selves may not mind a bit of extra waiting. This behaviour can be described well by non-exponential discounting functions such as hyperbolic discounting. In hyperbolic discounting, valuations fall rapidly for small delay periods, but the fall gets slower for longer delay periods. Hyperbolic discounting captures phenomena such as procrastination, addiction and in general inconsistency over time. This chapter investigates whether forms of non-exponential discounting, in particular close to the so called Quasi-Hyperbolic model, could also be characterized in terms of dynamically consistent choices when individuals discount the welfare of future selves as well as their payoffs. (shrink)

I argue that the use of a social discount rate to assess the consequences of climate policy is unhelpful and misleading. I consider two lines of justification for discounting: (i) ethical arguments for a "pure rate of time preference" and (ii) economic arguments that take time as a proxy for economic growth and the diminishing marginal utility of consumption. In both cases I conclude that, given the long time horizons, distinctive uncertainties, and particular costs and benefits at stake in (...) the climate context, discount rates are at best a poor proxy for the normative considerations they are meant to represent. (shrink)

Recent experiments suggest that search direction causally affects the discounted valuation of delayed payoffs. Comparisons between options can increase individuals’ patience toward future payoff options, while searching within options instead promotes impatient choices. We further test the robustness and specificity of this relationship using a novel choice task. Here individuals choose between pairs of delayed payoffs instead of single delayed outcomes. We observe a relationship between search styles and temporal discounting that are the opposite of those previously reported. Integrators (...) – those who tend to compare attributes within alternatives – discount and choose more slowly than comparators – those who are more likely to compare between alternatives. This finding supports and augments the view that individuals’ search strategy is predictive of subsequent discount rates. In particular, the direction of this relationship is further modifiable based on the spatial layout and varying information within an individual’s decision-making environment. (shrink)

According to Craig Callender [2022], the ‘received view’ across the social sciences is that, when it comes to time and preference, only exponential time discounting is rational. Callender argues that this view is false, even pernicious. Here I endorse what I take to be Callender’s main argument, but only in so far as the received view is understood in a particular way. I go on to propose a different way of understanding the received view that makes it true. In (...) short: When time discounting is suitably conceived, the exponential form of the discounting function is indeed uniquely rational. (shrink)

This paper defends the claim that mere temporal proximity always and without exception strengthens certain moral duties, including the duty to save – call this view Robust Temporalism. Although almost all other moral philosophers dismiss Robust Temporalism out of hand, I argue that it is prima facie intuitively plausible, and that it is analogous to a view about special obligations that many philosophers already accept. I also defend Robust Temporalism against several common objections, and I highlight its relevance to a (...) number of practical policy debates, including longtermism. My conclusion is that Robust Temporalism is a moral live option, that deserves to be taken much more seriously in the future. (shrink)

This paper studies the interaction between savagean uncertainty and time preferences. We introduce a variation of the discounted subjective expected utility model, where time preferences are state dependent. Before uncertainty is resolved, the individual is unsure about the discount factor that will be used, even when evaluating certain payoffs. The model can account for the present bias and diminishing impatience, even if the future is discounted geometrically. The present bias disappears when the immediate payoff becomes uncertain. Although preferences are not (...) stationary, choices may be time consistent. (shrink)

Judges tend to discount the opinions of others even though advice is often helpful in improving their accuracy. The present research proposes that this phenomenon of advice discounting results from the judges’ confidence in their initial decision and little trust in advice. Furthermore, the degree of advice discounting may be predicted by the combined roles of confidence and trust. Three studies provide evidence for these hypotheses. Participants were very confident in their initial estimation and had little trust in (...) the advice (study 1). The degree of advice discounting decreased when participants felt less confidence in performing difficult tasks compared with easy tasks (study 2) or when participants placed more trust in advice because the advice was from an expert rather than from a novice (study 3). In addition, confidence and trust predicted the degree of advice discounting across three studies. These findings shed new light on the mechanism underlying advice discounting and advice taking by indicating the combined roles of confidence and trust. (shrink)

This article is a critical survey of the debate over the value of the social discount rate, with a particular focus on climate change. The ma- jority of the material surveyed is from the economics rather than from the philosophy literature, but the emphasis of the survey itself is on founda- tions in ethical and other normative theory rather than highly technical details. I begin by locating the standard approach to discounting within the overall landscape of ethical theory, and (...) explaining the assumptions and simplifications that are needed in order to arrive at the model that is standard in the discounting literature. The article then covers the general theory of the Ramsey equation and its relationship to observed interest rates, arguments for and against a positive rate of pure time preference, the consumption elasticity of utility, and the effect of various sorts of uncertainty on the discount rate. Finally, it turns specifically to the ap- plication of this debate to the case of climate change, focussing on the recent controversy over the low discount rate used in the Stern Review of the Economics of Climate Change. (shrink)

Utility discounting in intertemporal economic modelling has been viewed as problematic, both for descriptive and normative reasons. However, positive utility discount rates can be defended normatively; in particular, it is rational for future utility to be discounted to take into account model-independent outcomes when decision-making under risk. The resultant values will tend to be smaller than descriptive rates under most probability assignments. This also allows us to address some objections that intertemporal considerations will be overdemanding. A principle for utility (...) discount rates is suggested which is rooted in probability discounting. Utility discounting is defended against objections from Parfit (1984) and Broome (2005); Broome (2012). A sample utility discount rate is estimated. [Open access]. (shrink)

discounting the future' is one on which philosophers and economists have divergent professional views. There is a lot of talking at cross-purposes across the disciplinary divide here; but there is a fair bit of confusion (I think) within disciplines as well. My aim here is essentially clarificatory. I draw several distinctions that I see as significant: • between inter-temporal and intergenerational questions • between price (discount rate) and quantity (inter-temporal and intergenerational allocations) as the ethically relevant magnitude, and • (...) between price change and preference change as the primary instrument of change. I show that discounting does not violate the principle of inter-temporal and intergenerational neutrality, but I also cast some doubt on whether making adequate allowance for future generations has really been the problem that economists and philosophers seem to have taken it to be. Key Words: discount rates • intergenerational justice • future generations • `feasibility' analysis. (shrink)

Scrutinizes a class of accounting prices that has been the object of regular misunderstanding: social discount rates. The topic is over 40 years old, yet controversy rages over matters that have long been settled, involving as they do technical economics. Many who express views on social discount rates overlook the literature and make incorrect claims. I point to a few as the occasions warrant.

Temporal discounting is a technical operation in climate change economics. When discount rates are positive, economic evaluation treats future benefits as less important than equivalent present benefits. This chapter explains and critically evaluates four different reasons economists have given for tying discount rates to the interest rates we observe in real-world markets. I suggest that while philosophers have correctly criticized three of these reasons, their criticisms of the fourth miss the mark. This is because philosophers have not taken heed (...) of the distinct analytical framework in which the fourth reason arises. (shrink)

The desirable gambles framework offers the most comprehensive foundations for the theory of lower pre- visions, which in turn affords the most general ac- count of imprecise probabilities. Nevertheless, for all its generality, the theory of lower previsions rests on the notion of linear utility. This commitment to linearity is clearest in the coherence axioms for sets of desirable gambles. This paper considers two routes to relaxing this commitment. The first preserves the additive structure of the desirable gambles framework and (...) the machinery for coherent inference but detaches the interpretation of desirability from the multiplicative scale invariance axiom. The second strays from the additive combination axiom to accommodate repeated gambles that return rewards by a non-stationary processes that is not necessarily additive. Unlike the first approach, which is a conservative amendment to the desirable gambles framework, the second is a rad- ical departure. Yet, common to both is a method for describing rewards called discounted utility. (shrink)

When assessing the cost effectiveness of health care programmes, health economists typically presume that distant events should be given less weight than present events. This article examines the moral reasonableness of arguments advanced for positive discounting in cost-effectiveness analysis both from an intergenerational and an intrapersonal perspective and assesses if arguments are equally applicable to health and monetary outcomes. The article concludes that behavioral effects related to time preferences give little or no reason for why society at large should (...) favour the present over the future when making intergenerational choices regarding health. The strongest argument for discounting stems from the combined argument of diminishing marginal utility in the presence of growth. However, this hinges on the assumption of actual growth in the relevant good. Moreover, current modern democracy may be insufficiently sensitive to the concerns of future generations. The second part of the article categorises preference failures (which justify paternalistic responses) into two distinct groups, myopic and acratic. The existence of these types of preference failures makes elicited time preferences of little normative relevance when making decisions regarding the social discount rate, even in an intrapersonal context. As with intergenerational discounting, the combined arguments of growth and diminishing marginal utility offer the strongest arguments for discounting in the intrapersonal context. However, there is no prima facie reason to assume that this argument should apply equally to health and monetary values. To be sure, selecting an approach towards discounting health is a complex matter. However, the life-or-death implications of any approach require that the discussion not be downplayed to merely a technical matter for economists to settle. (shrink)

Large-scale, self-sufficient space colonization is a plausible means of efficiently reducing existential risks and ensuring our long-term survival. But humanity is by and large myopic, and as an intergenerational global public good, existential risk reduction is systematically undervalued, hampered by intergenerational discounting. This paper explores how these issues apply to space colonization, arguing that the motivational and psychological barriers to space colonization are a special—and especially strong—case of a more general problem. The upshot is not that large-scale, self-sufficient space (...) colonization will never occur, but that, absent institutional change, the conditions under which it is most likely to occur are precisely those conditions where the threat of suffering risks might be most high. (shrink)

Ainslie challenges our interpretation of the properties of hyperbolic discount curves in an iterated prisoners’ dilemma model. In this reply, we discuss the emergence of hyperbolic discount functions in the behavioral economics literature and evaluate their properties. Furthermore, we present a summarized version of our IPD model and evaluate Ainslie’s points of contention.

An often-suggested way of giving content to the view that adolescent offenders should be punished more leniently than adult offenders has been to advocate the idea of a general youth discount for adolescents. Several theorists hold that a youth discount can be justified on a retributivist ground. But is the idea of a general youth discount consistent with the basic idea of giving individual offenders their just deserts? This article examines three arguments that have been presented to this effect. It (...) is argued that the arguments are implausible and that the idea of a retributively justified general youth discount for adolescent offenders is unpersuasive. (shrink)

Classical utilitarianism is very demanding and entails some counter-intuitive implications in moral dilemmas such as the trolley problem in deontological ethics and the repugnant conclusion in population ethics. This article presents how one specific modification of utilitarianism can avoid these counter-intuitive implications. In this modified utilitarian theory, called ‘discounted’ or ‘mild’ utilitarianism, people have a right to discount the utilities of others, under the condition that people whose utility is discounted cannot validly complain against such discounting. A complaint made (...) by a utility discounted person is not valid if either the existence of the discounting people in that option is in a specific sense necessary or the existence of the discounted person is in a sense not necessary. According to mild utilitarianism, we should choose the option that maximizes the total validly discounted or complaint-free discounted utility, i e. the sum of everyone’s utility minus the complaint-free discounts. As there are two conditions that make a complaint invalid, this right to discount can be translated into two versions: the right to bodily autonomy and the right to procreation autonomy. The former right relates to the mere means principle in deontological ethics, the latter right is useful in avoiding the repugnant conclusion problem in population ethics. The possibility of democratically imposing an upper bound on the permissible amount of discounting is discussed. (shrink)

Standard axioms of additively separable utility for choice over time and classic axioms of expected utility theory for choice under risk yield a generalized expected additively separable utility representation of risk-time preferences over probability distributions over sure streams of intertemporal outcomes. A dual approach is to use the analogues of the same axioms in a reversed order to obtain a generalized additively separable expected utility representation of time–risk preferences over intertemporal streams of probability distributions over sure outcomes. The paper proposes (...) an additional axiom, which is called risk-time reversal, for obtaining a special case of the two representations—expected discounted utility. The axiom of risk-time reversal postulates that if a risky lottery over streams of sure intertemporal outcomes and an intertemporal stream of risky lotteries yield the same probability distribution of possible outcomes in every point in time then a decision-maker is indifferent between the two. This axiom is similar to assumption 2 “reversal of order in compound lotteries” in Anscombe and Aumann :199–205, 1963, p. 201). (shrink)

This paper distinguishes between five different approaches to social discount rates in climate change economics, criticizes two of these, and explains how the other three are to some degree mutually compatible. It aims to shed some new light on a longstanding debate in climate change economics between so-called “descriptivists” and “prescriptivists” about social discounting. The ultimate goal is to offer a sketch of the conceptual landscape that makes visible some important facets of the debate that very often go unacknowledged.

Craig Callender [2022] provides a novel challenge to the non-arbitrariness principle. His challenge plays an important role in his argument for the rational permissibility of a non-exponential temporal discounting rate. But the challenge is also of wider interest: it raises significant questions about whether we ought to accept the non-arbitrariness principle as a constraint on rational preferences. In this paper, I present two reasons to resist Callender’s challenge. First, I present a reason to reject his claim that the non-arbitrariness (...) principle only targets pure time preferences. Second, I criticize the inference Callender draws from a modest claim to a much stronger claim. The modest claim is that it can be hard to reveal the contents of an agent’s preferences. The stronger claim is that this provides us with a reason to reject a certain kind of normative constraint on rational preferences. I argue that the modest claim doesn’t motivate the stronger claim. The upshot of my two arguments is good news for those sympathetic to the non-arbitrariness principle: Callender’s challenge can be overcome, at least as it currently stands. (shrink)

Economic policy evaluations require social welfare functions for variable-size populations. Two important candidates are critical-level generalized utilitarianism (CLGU) and rank-discounted critical-level generalized utilitarianism, which was recently characterized by Asheim and Zuber (2014) (AZ). AZ introduce a novel axiom, existence of egalitarian equivalence (EEE). First, we show that, under some uncontroversial criteria for a plausible social welfare relation, EEE suffices to rule out the Repugnant Conclusion of population ethics (without AZ’s other novel axioms). Second, we provide a new characterization of CLGU: (...) AZ’s set of axioms is equivalent to CLGU when EEE is replaced by the axiom same-number independence. (shrink)

Ross Harrison; IV*—Discounting the Future, Proceedings of the Aristotelian Society, Volume 82, Issue 1, 1 June 1982, Pages 45–58, https://doi.org/10.1093/aristo.

Many population axiologies avoid the Repugnant Conclusion by endorsing Superiority: some number of great lives is better than any number of mediocre lives. But as Nebel shows, RC follows from the Intrapersonal Repugnant Conclusion: a guaranteed mediocre life is better than a sufficiently small probability of a great life. This result is concerning because IRC is plausible. Recently, Kosonen has argued that IRC can be true while RC is false if small probabilities are discounted to zero. This article details the (...) unique problems created by combining Superiority with discounting. The resultant view, Superiority Discounting, avoids the Repugnant Conclusion only at the cost of the Preposterous Conclusion: near-certain hell for arbitrarily many people is better than near-certain heaven for arbitrarily many people. (shrink)

Breaking one's dieting rule or resolution to quit smoking, procrastination, convenient lies, even the failure of entire nations to follow through with plans to cut greenhouse gas emissions or keep a pandemic in check - these phenomena have been discussed by philosophers and behavioural scientists as examples of weakness of will and delay discounting. Despite the common subject matter both fields have to date rarely worked together for mutual benefit. For the empirical literature is hardly accessible to a reader (...) not familiar with econometric theory; and researchers in the behavioural sciences may find philosophical accounts invoking discounting models difficult to understand without inside knowledge of the debates and historical background. -/- Nora Heinzelmann targets this lacuna by making the ideas and findings from both disciplines intelligible to outsiders. This reveals that discounting - as philosophers have conceived of it - is neither necessary nor sufficient for weakness of will, even though there is substantial overlap. Heinzelmann develops a richer descriptive account of weakness of will that is based on the empirically founded assumption that weak-willed behaviour is determined by uncertainty about whether or when a good materialises. She also explains why weakness of the will understood in this way is irrational: the agent yields to a cognitive bias that leads them to underestimate the greater good they think they ought to and can obtain. Finally, she explores practical implications for individuals and policymakers. (shrink)

This paper challenges the conventional wisdom dominating the social sciences and philosophy regarding temporal discounting, the practice of discounting the value of future utility when making decisions. Although there are sharp disagreements about temporal discounting, a kind of standard model has arisen, one that begins with a normative standard about how we should make intertemporal comparisons of utility. This standard demands that in so far as one is rational one discounts utilities at future times with an exponential (...) discount function. Tracing the justification for this standard through economics, philosophy and psychology, I’ll make what I believe is the best case one can for it, showing how a non-arbitrariness assumption and a dominance argument together imply that discounting ought to be exponential. Ultimately, however, I don’t find the case compelling. Non-exponential temporal discounting is often rational. If this is correct, Instead of trying to ‘fix’ non-exponential discounting because it is irrational and associated with negative life outcomes, we might instead focus attention on why the conditions obtain that make such discounting rational. (shrink)

We investigated the effect of monetary rewards on the rate of pain discounting. Our aim, also, was to understand the effect of previous painful dental experiences on the rate of discounting pain. Two groups completed a discounting task. In the first group, delayed pain was weaker than immediate pain, and in the second group delayed pain was stronger than immediate pain. Two conditions were studied: pain was either accompanied by a monetary reward or not. We found that (...) people preferred immediate pain when it was weaker than delayed pain; however, when delayed pain was stronger than immediate pain, there was no clear preference. In both groups the preference for immediate pain was higher when pain was accompanied by a monetary reward. Previous painful experiences were not related to the rate of discounting. It was concluded that the preference for delayed pain depends on the intensity of pain, and it can be modified by rewards that accompany pain. (shrink)

The models of internal self-control that have recently been proposed by behavioral economists do not depict motivational interaction that occurs while temptation is present. Those models that include willpower at all either envision a faculty with a motivation (“strength”) different from the motives that are weighed in the marketplace of choice, or rely on incompatible goals among diverse brain centers. Both assumptions are questionable, but these models’ biggest problem is that they do not let resolutions withstand re-examination while being challenged (...) by impulsive alternatives. The economists’ models all attempt to make a single equilibrium preference predictable from a person’s prior incentives. This was the original purpose of these models’ hyperboloid (“β–δ”) delay discount functions, which have been widely justified by the assumption that a person’s intertemporal inconsistency (impulsiveness) can be accounted for by the arousal of appetite for visceral rewards. Although arousal is clearly a factor in some cases of intertemporal inconsistency, it cannot be blamed for others, and furthermore does not necessarily imply hyperboloid discounting. The inadequacy of β–δ functions is particularly evident in models of internal self-control. I have reviewed several of these models, and have argued for a return to pure hyperbolic discount function as originally proposed, the relatively high tails of which can motivate a recursive process of self-prediction and thereby the formation of self-enforcing intertemporal contracts. Such a process does not require a separately motivated faculty of will, or incompatible goals among brain centers; but it also does not permit the prediction of unique preferences from prior incentives. (shrink)

Orthodox decision theory is fanatical in the way it treats small probabilities of enormous value, if unbounded utility functions are allowed. Some have suggested a fix, Nicolausian discounting, according to which outcomes with small enough probabilities should be ignored when making decisions. However, there are lotteries involving only small-probability outcomes, none of which should intuitively be ignored. So the Nicolausian discounter needs a procedure for distinguishing the problematic cases of small-probability outcomes from the unproblematic ones. In this paper, I (...) present a dilemma for Nicolausian discounting: the view must be coupled either with a procedure that delivers fanatical verdicts of its own, as bad as those of orthodox decision theory, or with one that entails intransitive cyclic preferences. (shrink)

In carrying out cost-benefit or cost-effective analysis, a discount rate should be applied to some kinds of future benefits and costs. It is controversial, though, whether future health is in this class. I argue that one of the standard arguments for discounting (from diminishing marginal returns) is inapplicable to the case of health, while another (favouring a pure rate of time preference) is unsound in any case. However, there are two other reasons that might support a positive discount rate (...) for future health: one relating to uncertainty, and the other relating to the instrumental benefits of improved health. While the latter considerations could be modelled via a discount rate, they could alternatively be modelled more explicitly, in other ways; I briefly discuss which modelling method is preferable. Finally, I argue against the common claims that failing to discount future health would lead to paradox, and/or to inconsistency with the way future cash flows are treated. (shrink)

This paper formulates and axiomatizes utility models for denumerable time streams that make no commitment in regard to discounting future outcomes. The models address decision under certainty and decision under risk. Independence assumptions in both contexts lead to additive or multiplicative utilities over time periods that allow unambiguous comparisons of the relative importance of different periods. The models accommodate all patterns of future valuation. This discount-neutral feature is attained by restricting preference comparisons to outcome streams or probability distributions on (...) outcome streams that differ in at most a finite number of periods. (shrink)

In this paper, I argue that philosophy departments at state universities may discount women’s applications. My argument rests on two premises: if the balance of merit-based reasons supports discounting one group relative to a second, then a state institution may discount the first group’s application and the balance of merit-based reasons supports philosophy departments at state universities discounting women’s applications relative to men’s applications.The latter premise was supported by three assumptions. First, if discounting the applications of one (...) group relative to a second is supported by at merit-based reasons and not opposed by an equally strong merit-based reasons, then discounting that group’s applications is supported by a balance of merit-based reasons. Second, discounting the application of women relative to men is supported by a merit-based reason or reasons. Third, discounting the application of women relative to men is not opposed by an equally strong merit-based reason or reasons. (shrink)

“But,” “however,” and “although” are among the most common words in a large family that, following Fogelin, I call discounts. Students universally take them to be inference indicators, like “because,” and “therefore.” While this is incorrect, paying attention to discounts can help us identify arguments. Unfortunately, accounts given by both logicians and linguists are at best unhelpful, at worst incorrect, and sometimes even inconsistent. After justifying these criticisms, I give an account that distinguishes discounts from inference indicators while doing justice (...) to students’ hunch that they can help us identify arguments. (shrink)

While broadly in agreement with the conclusion that the exponentially discounted utility model (EDU) is not a universally valid rationality standard, I want to defend some intertemporal rationality criteria related to EDU, which Craig Callender might not share. My commentary explores the tension between these intuitions and Callender's arguments. In the first place, I show that many of the concerns that he raises are in fact compatible with intertemporal consistency (and sometimes even with EDU). Secondly, I rebut those arguments that (...) directly challenge consistency. I conclude that while we disagree on the rationality of consistency, we can nevertheless agree on its non-universality and its limited justification of policy interventions. (shrink)

This chapter examines one intuitively appealing legal practice for which retributivist accounts struggle to find justification: multiple-offense sentencing discounts. It also considers several proposed strategies for justifying bulk discounts on the basis of retributivism. Three strategies are discussed: those that appeal to an absolute punishment maximum, those that appeal to interpersonal practices of blame and making amends, and those that suggest that perpetrators of multiple offenses sometimes have reduced culpability. The chapter argues that each of these strategies either is implausible (...) as a ground for bulk-sentencing discounts or is plausible only insofar as it incorporates nonretributivist considerations into its account — thus is in fact a hybrid view. It concludes by looking at hybrid theories as an alternative, suggesting that such approaches not only can provide justification for bulk-sentencing discounts, but are also more plausible in general than is generally assumed. (shrink)