Results for 'Discounting'

937 found
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  1.  11
    Richard L. Lippke.Bulk Discounts - 2011 - In Mark D. White, Retributivism: Essays on Theory and Policy. Oxford University Press. pp. 212.
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  2. Theory and decison.Richard G. Brody, John M. Coulter, Alireza Daneshfar, Auditor Probability Judgments, Discounting Unspecified Possibilities, Paula Corcho, José Luis Ferreira & Generalized Externality Games - 2003 - Theory and Decision 54:375-376.
     
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  3. Discounting, Climate Change, and the Ecological Fallacy.Matthew Rendall - 2019 - Ethics 129 (3):441-463.
    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.
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  4.  14
    Trichotomic discounted utility.Craig S. Webb - 2019 - Theory and Decision 87 (3):321-339.
    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 (...)
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  5. Probability discounting and money pumps.Petra Kosonen - 2024 - Philosophy and Phenomenological Research 109 (2):593-611.
    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 (...)
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  6. Discounting Small Probabilities Solves the Intrapersonal Addition Paradox.Petra Kosonen - 2021 - Ethics 132 (1):204-217.
    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 (...)
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  7.  9
    Delay Discounting of Monetary and Social Media Rewards: Magnitude and Trait Effects.Tim Schulz van Endert & Peter N. C. Mohr - 2022 - Frontiers in Psychology 13.
    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 (...)
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  8. Time Discounting and Time Consistency.Nicola Dimitri & Jan van Eijck - unknown
    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 (...)
     
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  9. Does a discount rate measure the costs of climate change?Christian Tarsney - 2017 - Economics and Philosophy 33 (3):337-365.
    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 (...)
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  10.  31
    Temporal Discounting and Search Habits: Evidence for a Task-Dependent Relationship.Mel W. Khaw, Ziang Li & Michael Woodford - 2018 - Frontiers in Psychology 9:377427.
    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 (...)
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  11.  27
    Why Time Discounting Should Be Exponential: A Reply to Callender.Katie Steele - 2021 - Australasian Philosophical Review 5 (3):284-295.
    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 (...)
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  12. Time discounting, consistency, and special obligations: a defence of Robust Temporalism.Harry R. Lloyd - 2021 - Global Priorities Institute, Working Papers 2021 (11):1-38.
    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 (...)
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  13.  20
    Uncertain discount and hyperbolic preferences.Daniele Pennesi - 2017 - Theory and Decision 83 (3):315-336.
    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 (...)
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  14.  17
    Why Does Advice Discounting Occur? The Combined Roles of Confidence and Trust.Xiuxin Wang & Xiufang Du - 2018 - Frontiers in Psychology 9:343557.
    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 (...)
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  15. Discounting for public policy: A survey.Hilary Greaves - 2017 - Economics and Philosophy 33 (3):391-439.
    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 (...)
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  16. Principled Utility Discounting Under Risk.Kian Mintz-Woo - 2019 - Moral Philosophy and Politics 6 (1):89-112.
    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 (...)
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  17. Discounting the future, yet again.Geoffrey Brennan - 2007 - Politics, Philosophy and Economics 6 (3):259-284.
    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 • (...)
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  18.  9
    Discounting Future Consumption.Partha Dasgupta - 2001 - In Human Well-Being and the Natural Environment. Oxford University Press.
    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.
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  19. Temporal Discounting and Climate Change.J. Paul Kelleher - forthcoming - In Nina Emery, The Routledge Companion to Philosophy of Time. Routledge.
    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 (...)
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  20. Discounting Desirable Gambles.Gregory Wheeler - 2021 - Proceedings of Machine Learning Research 147:331-341.
    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 (...)
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  21. Discounting, Preferences, and Paternalism in Cost-Effectiveness Analysis.Gustav Tinghög - 2012 - Health Care Analysis 20 (3):297-318.
    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 (...)
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  22. Discounted Life: The Price of Global Surrogacy in India.[author unknown] - 2015
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  23.  95
    Discounting, Buck-Passing, and Existential Risk Mitigation: The Case of Space Colonization.Joseph Gottlieb - forthcoming - Space Policy.
    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 (...)
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  24.  57
    Hyperbolic discount curves: a reply to Ainslie. [REVIEW]Andrew Musau - 2014 - Theory and Decision 76 (1):9-30.
    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.
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  25. Time discounting and time preference: A critical review.Shane Frederick, George Loewenstein & Ted O’Donoghue - 2002 - Journal of Economic Literature 40 (2):351–401.
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  26.  41
    Youth Discounts, Diminished Culpability, and Retributivism.Jesper Ryberg - 2015 - International Journal of Applied Philosophy 29 (2):253-269.
    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 (...)
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  27.  22
    Discounting Utility Without Complaints: Avoiding the Demandingness of Classical Utilitarianism.Stijn Bruers - 2023 - International Journal of Philosophy 11 (3):87-95.
    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 (...)
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  28.  26
    Expected discounted utility.Pavlo Blavatskyy - 2020 - Theory and Decision 88 (2):297-313.
    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 (...)
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  29.  40
    Discounting, Jamieson's trilemma and representing the future.Robin Attfield - 1997 - Kriterion - Journal of Philosophy 1 (12):24-32.
  30. Discounting the Future.John Broome - 1994 - Philosophy and Public Affairs 23 (2):128-156.
  31. Descriptive versus Prescriptive Discounting in Climate Change Policy Analysis.Kelleher J. Paul - 2017 - Georgetown Journal of Law and Public Policy 15:957-977.
    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.
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  32. Time discounting for primary rewards.Samuel McClure, Keith Ericson, David Laibson, George Loewenstein & Jonathan Cohen - 2007 - Journal of Neuroscience 27 (21):5796–804.
     
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  33. Arbitrariness Arguments against Temporal Discounting.Tim Smartt - 2021 - Australasian Philosophical Review 5 (3):302-308.
    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 (...)
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  34. Additively-separable and rank-discounted variable-population social welfare functions: A characterization.Dean Spears & H. Orri Stefansson - 2021 - Economic Letters 203:1-3.
    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: (...)
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  35.  77
    IV*—Discounting the Future.Ross Harrison - 1982 - Proceedings of the Aristotelian Society 82 (1):45-58.
    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.
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  36. Superiority Discounting Implies the Preposterous Conclusion.Mitchell Barrington - 2022 - Utilitas 34 (4):493-501.
    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 (...)
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  37.  61
    Weakness of will and delay discounting.Nora Heinzelmann - 2023 - Oxford: Oxford University Press.
    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 (...)
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  38. Discounting climate change.Partha Dasgupta - 2008 - Journal of Risk and Uncertainty 37 (2-3):141–69.
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  39. Discounting luminance contrast produced by an illumination edge.A. Logvinenko - 1996 - In Enrique Villanueva, Perception. Ridgeview Pub. Co. pp. 54-54.
     
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  40. (1 other version)The Normative Standard for Future Discounting.Craig Callender - 2021 - Australasian Philosophical Review 5 (3):227-253.
    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 (...)
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  41.  34
    Delayed discounting of pain with and without monetary reward.Przemysław Bąbel & Paweł Kicman - 2017 - Polish Psychological Bulletin 48 (4):464-469.
    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 (...)
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  42. Pure hyperbolic discount curves predict “eyes open” self-control.George Ainslie - 2012 - Theory and Decision 73 (1):3-34.
    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 (...)
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  43. A dilemma for Nicolausian discounting.Pietro Cibinel - 2023 - Analysis 83 (4):662-672.
    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 (...)
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  44. Discounting future health.Hilary Greaves - forthcoming - In Norheim Emanuel Jamison Johansson Millum Otterson Ruger and Verguet, Global health priority-setting: Cost-effectiveness and beyond. Oxford University Press.
    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 (...)
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  45.  69
    Discount-neutral utility models for denumerable time streams.Peter Fishburn & Ward Edwards - 1997 - Theory and Decision 43 (2):139-166.
    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 (...)
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  46. Discounting Women’s Applications when Hiring.Stephen Kershnar - 2020 - Philosophia 48 (1):227-260.
    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 (...)
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  47.  61
    On Discounts and Argument Identification.Michael Malone - 2010 - Teaching Philosophy 33 (1):1-14.
    “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 (...)
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  48. Discounting delayed and probabilistic rewards: Processes and traits.Joel Myerson, Leonard Green, J. Hanson, D. Holt & S. Estle - 2003 - Journal of Economic Psychology 24:619–35.
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  49.  21
    In Defence of Intertemporal Consistency. A Discussion of Craig Callender’s ‘The Normative Standard for Future Discounting’.Till Grüne-Yanoff - 2021 - Australasian Philosophical Review 5 (3):266-276.
    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 (...)
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  50. Multiple-Offense Sentencing Discounts: Score One for Hybrid Accounts of Punishment.Zachary Hoskins - 2017 - In Jesper Ryberg, Julian V. Roberts & Jan Willem de Keijser, Sentencing Multiple Crimes. New York, USA: Oxford University Press. pp. 75-93.
    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 (...)
     
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