The concept of ecosystem services is a way of visualizing the instrumental value that nature has for human beings. Most ecosystem services can be performed by more than one species. This fact is sometimes used as an argument against the preservation of species. However, even though substitutability does detract from the instrumental value of a species, it also adds option value to it. The option value cannot make a substitutable species as instrumentally valuable as (...) a non-substitutable species, but in many cases, it can add enough value to make the species more valuable than the projects that threaten its existence. (shrink)

This paper argues that under conditions of uncertainty, there is frequently a positive option value to staying alive when compared to the alternative of dying right away. This value can make it prudentially rational for you to stay alive even if it appears highly unlikely that you have a bright future ahead of you. Drawing on the real options approach to investment analysis, the paper explores the conditions under which there is a positive option value (...) to staying alive, and it draws out important implications for the problems of suicide and euthanasia. (shrink)

Supererogatory acts are those that lie “beyond the call of duty.” There are two standard ways to define this idea more precisely. Although the definitions are often seen as equivalent, I argue that they can diverge when options are infinite, or when there are cycles of better options; moreover, each definition is acceptable in only one case. I consider two ways out of this dilemma.

If the point of argument is to produce conviction, an argument tor a foregone conclusion is pointless. I maintain, however, that an argument makes a variety of cognitive contributions, even when its conclusion is already believed. It exhibits warrant. It affords reasons that we can impart to others. It identifies bases tor agreement among parties who otherwise disagree. It underwrites confidence, by showing how vulnerable warrant is under changes in background assumptions. Multiple arguments for the same conclusion show how our (...) beliefs hang together. (shrink)

This paper focuses on how Soldiers make hard choices between competing options. To understand the psychological processes behind these types of decisions, we present qualitative data collected from...

This paper proposes a model of technology standardization based on modular standards and the effect of market uncertainty on the value of modularity in standards. A real options model quantifies the value of modularity in standards, illustrating that a rational way to standardize some IT technology in uncertain markets is with modular design, end-2-end structure, and proper staging of the standard. Highly modularized standards provide a higher option value because of the ability to select the best (...) modules to change at a fine granularity. (shrink)

Logical Options introduces the extensions and alternatives to classical logic which are most discussed in the philosophical literature: many-sorted logic, second-order logic, modal logics, intuitionistic logic, three-valued logic, fuzzy logic, and free logic. Each logic is introduced with a brief description of some aspect of its philosophical significance, and wherever possible semantic and proof methods are employed to facilitate comparison of the various systems. The book is designed to be useful for philosophy students and professional philosophers who have learned some (...) classical first-order logic and would like to learn about other logics important to their philosophical work. (shrink)

Discourse around assisted colonization focuses on the ecological risks, costs, and uncertainties associated with the practice, as well as on its technical feasibility and alternative approaches to it. Nevertheless, the ethical underpinnings of the case for assisted colonization are claims about the value of species. A complete discussion of assisted colonization needs to include assessment of these claims. For each type of value that species are thought to possess it is necessary to determine whether it is plausible that (...) species possess the type of value and, if so, to what extent their possessing it justifies assisted colonization. I conducted such an assessment for each of the predominant types of value ascribed to species: ecological, instrumental (including option value), existence, and intrinsic value (including interest‐based, objective, and valuer‐dependent intrinsic value). The vast majority of species, including several that have been proposed as candidates for assisted colonization, have much less value than is often presumed. Moreover, with respect to some types of value, assisted colonization would not fully preserve the value of the target species even if it were to keep the target species in existence. Therefore, the case for assisted colonization is significantly weaker and more qualified than its advocates often suppose. There may be exceptional species for which assisted colonization is well justified—and for this reason, case‐by‐case assessment is necessary—but in general the burden of justification generated by the ecological risks associated with assisted colonization is not met by the value potentially preserved by assisted colonization. This suggests that assisted colonization ought to have, at most, a very minor role in the portfolio of ecosystem management practices, even as it pertains to species conservation under conditions of rapid climate change. (shrink)

Even where willingness-to-pay as a measure of welfare impact is adjusted for diminishing marginal utility, welfare economics is shown to favour policies that add to the life expectancy or that enhance the quality of life of persons who are already better-off. I propose an alternative, Equal Respect methodology, under an axiomatic claim that at the point of decision the prospective life years of all individuals are of equal intrinsic social value. This justifies equal valuation of risk mitigation across all (...) persons; similarly, all appraised impacts should be scaled to accord equal respect to difficult but no-less-valuable lives. (shrink)

This case study was undertaken to explore the way postgraduate management students relate their personal values to their current education and future career aspirations. The research primarily focused on the per ceptions of students enrolled in an elective course offered by the Management Centre for Human Values, Indian Institute of Management, Calcutta (IIMC). Students' attitudes towards Western postgraduate man agement programme were elicited through interviews and group discussions. Their diverse attitudes are analysed under the themes of gender; personal identity; age (...) and status; ethics, religion and spirituality; profit and wealth; as well as consumerism and environmentalism. The opinions of the students are quoted directly to illustrate their experience of tension and ambiguity, as they anticipated movingfrom an academic to a business role. (shrink)

The marketization of interest rate is an inevitable requirement for China’s financial reform and joining the WTO to connect with the international financial market. It is also an important link to improve the marketization degree of China’s financial system. The marketization of interest rate in China is gradually advancing according to its preset mode. In the process of interest rate marketization, an unavoidable problem is that while the interest rate marketization gives the commercial banks the autonomy of capital pricing, the (...) fluctuation of interest rate is more and more frequent. However, due to the fluctuation of interest rate, the loan as the main assets of commercial banks will be prepayed by borrowers, and the time deposit as the main liabilities of commercial banks will be withdrawn by depositors in advance; that is, embedded options are implied in asset liability items, which makes it difficult for commercial banks to accurately calculate the actual interest margin of deposits and loans and manage the interest rate risk. Therefore, it is of great significance to identify and price such embedded option value. On the basis of identifying and decomposing the embedded options in deposit and loan of commercial banks, according to the change characteristics of deposit and loan interest rate of Chinese commercial banks, this paper chooses jump-diffusion interest rate model to describe the change of benchmark interest rate of deposit and loan in China and demonstrates the advantages of this model compared with other models. Based on Monte Carlo simulation technology, the embedded options of five-year fixed deposit and ten-year prepayable loan in China are priced. On this basis, it points out that the real interest margin of commercial bank’s deposit and loan should be the nominal interest margin minus the value of deposit and loan’s embedded options. In the process of interest rate risk management, we should pay attention to the existence of embedded options and carry out effective management. (shrink)

This case study was undertaken to explore the way in which postgraduate management students relate their personal values to their current education and future career aspirations. The research primarily focused on the perceptions of students taking an elective offered by the Management Centre for Human Values at the Indian Institute of Management, Calcutta (IIMC). Students' attitudes toward western postgraduate manage ment programme were elicited using interviews and group discussions. Part A of the paper had presented the aiverse range of attitudes (...) analysed under the themes ofgender; personal identity; age and status; ethics, religion and spirituality; profit and wealth: as well as consumerism and environmentalism. Part B extends this exploration by direct quotes from students to illustrate their experience of tension and ambiguity, as they anticipated moving from an academic to a business role. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:"An Option for Art But Not an Option for Life":Beauty as an Educational ImperativeJoe Winston (bio)IntroductionIn a recent meeting of the academic staff in the university department where I work, we were asked to state our current research interests. Responses progressed around the circle and everyone listened quietly and respectfully until I stated that my interest was beauty, to which there was general laughter—complicit, not derisory, as (...) if everyone laughing presumed it was a joke. In the same week, I heard a story from a colleague who works in another institution. She had been interviewing a prospective female candidate for their postgraduate teacher training course with a deputy principal from a local school. When it came to a decision, the latter had not been in favor of offering the young woman a place; she was "too beautiful," she thought, to the extent that she would "be a distraction" in the classroom.I offer these stories as illustrative of a fact little discussed—that beauty is a problem in educational discourse, seen as either wildly irrelevant or discordant with the job of teaching. Yet it was not always the case. Beauty has in the past been understood as one of the highest aims of education. For Schiller, it fulfilled a core human need, and he wrote in the second of his Letters on the Aesthetic Education of Man that "it is only through Beauty that man makes his way to Freedom."1 Matthew Arnold argued that it was in beauty that the "human race finds its ideal."2 Emerson saw beauty as "the form under which the intellect likes to study the world,"3 and Iris Murdoch argued that it should be at the base of any education in the virtues, citing Plato's argument that beauty is the one spiritual quality that we love by instinct.4 These figures could hardly be described as philosophical lightweights, yet their sentiments and the complex arguments through which they expressed [End Page 71] them have for years been neglected; only recently has this begun to change. Elaine Scarry, in particular, has written an influential book on the topic, taking up the argument of Iris Murdoch and developing a strong case for the educational power of beauty, allying it strikingly with an education in social justice.5 Two recent articles in this journal have also heralded a re-evaluation of beauty as a concept of profound significance for both the arts and education. Stuart Richmond sees in the development of our capacities to create and appreciate beauty "a way to bring us back into contact with what is sensual and intrinsically worthwhile,"6 and Howard Cannatella argues passionately "that something of the indelible quality of poiesis and delight in beauty should be the focus of specific educational concern, a factor at its core."7This article is an attempt to add further substance to the claim that-beauty should be one of our core educational values. In doing so, it develops the ideas that connect these perspectives: that beauty's power is instinctive, that it delights, that it is of deep human value. As do Murdoch and Scarry in their different ways, I will argue that beauty is powerfully formative and intrinsically associated with virtue, an idea developed in the final section of the article. First, however, I wish to consider what happened to beauty and why it became a neglected concept not only in education but also in the arts.What Happened to Beauty?Language and world refer to each other and presuppose each other for their mutual intelligibility. In this count, human learning becomes the process of aligning language and world.8In considering beauty, we begin inevitably with the word itself and with its usage. Like all evaluative concepts captured through language, beauty is a historical and cultural entity and, as such, it has both gathered and discarded meanings with the passage of time. Consequently, its nature is elusive and open to revision and debate. Is it characterized by perfect harmony and balance, as the classical world would have it, or by the soaring solidity of a medieval Gothic cathedral? Do we associate it with goodness... (shrink)

The problem of generalizing the power option-pricing model to incorporate more empirical features becomes an urgent and necessary event. A new power option pricing method is designed for the financial market uncertainty that simultaneously involves randomness and fuzziness. The randomness in market uncertainty is modeled by a time-fractional diffusion model, which describes trend memory in underlying asset prices. The fuzziness in market uncertainty is characterized by a triangular interval type-2 fuzzy numbers, which better captures the fuzziness of underlying (...) asset prices. Considering the decision-maker’s subjective judgment, we show the price mean value with the possibility-necessity weight and pessimistic-optimistic index under the type-2 fuzzy environment. We develop the power option pricing model with the time-fractional diffusion model and the triangular interval type-2 fuzzy numbers. Furthermore, the analytic solutions of pricing call power option and put power option are obtained and verified by the variational iterative reconstruction method. Our study shows that power option pricing, which adopts the time-fractional model and the triangular interval type-2 fuzzy numbers, can better capture the trend memory and double fuzziness of the real market. In addition, a numerical example is provided to illustrate that the power option means the value is decreasing with respect to the pessimistic-optimistic index and is fluctuating with respect to the possibility-necessity weight index. (shrink)

The paper adopts the co-evolutionary perspective on the human society/natural environment relationship developed, particularly, by the economist Richard Norgaard. This implies that human environmental knowledge is necessarily dynamic and incomplete. By extension, it is also fragmentary, in the sense that what may hold true when considering particular spatial and/or temporal scales may otherwise be false. The paper briefly explores the implications for rationality and belief, focusing particularly on the powerful role of metaphor in our collective and individual sense-making. The implications (...) of one particular metaphor—that of natural capital—are explored. Tentative conclusions about useful educational design are proposed, drawing on recent research. (shrink)

A rational process for assessment of environmental policy options should be based on an appreciation of how humans value nature. Increased understanding of values will also contribute to the development of appropriate ways for us to relate to and manage natural areas. Over the past two decades, environmental philosophers have examined the notion that there is an intrinsic value in nature. Economists have attempted to define and measure the market and nonmarket economic values associated with decisions concerning natural (...) areas. Psychologists have tried to assess the extent to which people believe in an intrinsic value in nature, and have also begun to work with economists to improve nonmarket valuation techniques. I briefly review the contributions made to our understanding of natural area value by environmental philosophy, psychology and economics, and develop a model that integrates insights from these disciplines. Components in the model include cognitions, held values, assigned values and various modes of value expression. I make recommendations for future validation, development and use of the model. (shrink)

According to traditional forms of act-consequentialism, an action is right if and only if no other action in the given circumstances would have better consequences. It has been argued that this view does not leave us enough freedom to choose between actions which we intuitively think are morally permissible but not required options. In the first half of this article, I will explain why the previous consequentialist responses to this objection are less than satisfactory. I will then attempt to show (...) that agents have more options on consequentialist grounds than the traditional forms of act-consequentialism acknowledged. This is because having a choice between many permissible options can itself have value. (shrink)

Truth-value gaps have received little attention from a foundational perspective, a fact which has rightfully opened up gap theories to charges of vacuousness. This paper develops an account of the foundations of gap-like behavior which has some hope of avoiding such charges. I begin by reviewing and sharpening a powerful argument of Dummett’s to constrain the options that gap theorists have to make sense of their views. I then show that within these strictures, we can give an account of (...) gaps by drawing on elements of a broadly Stalnakerian framework for assertion and using gaps to track an amalgamation of assertoric effects. The discussion reveals that we may need special resources in our theories of assertion to posit gaps, that gaps may be unusable in characterizing the structure of mental states, and that gaps may have heterogeneous linguistic sources that result in equally heterogeneous projective and inferential behavior. (shrink)

The Harvard Report, published in April 1999 for public consultation in Hong Kong, proposed a fundamental restructuring in its health care delivery and financing systems. The Report claims to be evidence-based in its approach (Hsiao et al., 1999a). While 'evidence' has been widely collected by the consultancy team through surveys, consultations and focus groups, the recommendations put forth are not value-free. They carry clear ideological preferences. The value assumptions and ethical presuppositions underlying the report are discussed in this (...) paper. The Harvard consultancy study is in favor of a positive government role in regulation and control, a single central body to administer compulsory health insurance for all citizens, and a purchaser-provider split to induce competition. Such preference is based on pre-existing ideology and generic health care management concepts, which are still in the experimental phase internationally. While value and ideology are inevitable factors in any policy choice, the challenge is to lay these values open for reflection and public debate. For Hong Kong, the challenge is also to take on local substantive issues in health care and deal with them head-on, rather than putting hope in a universal, generic solution. (shrink)

This chapter explores the idea that phylogenetic diversity plays a unique role in underpinning conservation endeavour. The conservation of biodiversity is suffering from a rapid, unguided proliferation of metrics. Confusion is caused by the wide variety of contexts in which we make use of the idea of biodiversity. Characterisations of biodiversity range from all-variety-at-all-levels down to variety with respect to single variables relevant to very specific conservation contexts. Accepting biodiversity as the sum of a large number of individual measures results (...) in an empirically intractable framework. However, large-scale decisions cannot be based on biodiversity variables inferred from local conservation imperatives because the variables relevant to the many systems being compared would be incommensurate with one another. We therefore need some general conception of biodiversity that would make tractable such large-scale environmental decision-marking. We categorise the large array of strategies for the measurement of biodiversity into four broad groups for consideration as general measures of biodiversity. We compare common moral justifications for the conservation of biodiversity and conclude that some form of instrumental value is the most plausible justification for biodiversity conservation. Although this is often interpreted as a reliance on option value, we opt for a broadly consequentialist characterisation of biodiversity conservation. We conclude that the best justified general measure of biodiversity will be some form of phylogenetic diversity. (shrink)

Non-deterministic matrices are multiple-valued structures in which the value assigned by a valuation to a complex formula can be chosen non-deterministically out of a certain nonempty set of options. We consider two different types of semantics which are based on Nmatrices: the dynamic one and the static one . We use the Rasiowa-Sikorski decomposition methodology to get sound and complete proof systems employing finite sets of mv-signed formulas for all propositional logics based on such structures with either of the (...) above types of semantics. Later we demonstrate how these systems can be converted into cut-free ordinary Gentzen calculi which are also sound and complete for the corresponding non-deterministic semantics. As a by-product, we get new semantic characterizations for some well-known logics. (shrink)

The assessments issued by the Intergovernmental Panel on Climate Change (IPCC) aim to provide policy-makers with an objective source of information about the various causes of climate change, the projected consequences for the environment and human affairs, and the options for adaptation and mitigation. But what, in this context, is meant by ‘objective’? In practice, in an effort to address internal and external criticisms, the IPCC has regularly revised its methodological procedures; some of these procedures seem to meet the requirements (...) of objectivity, at least as understood in a specific sense, but the relationship between objectivity and value-neutrality requires further investigation. The aim of this paper is to offer an appropriate philosophical account of objectivity, reconcilable with the fact that the IPCC is not value-free. I argue that Sandra Harding’s notion of strong objectivity is particularly well suited to this goal, and I examine the extent to which the current IPCC procedures match her account. (shrink)

Valuing conservation and biodiversity outcomes in economic analysis is difficult, as it is in health economics. Because health economics has previously had to respond to the many challenges currently faced by conservation economics, health economists have developed very successful tools for responding to these challenges which conservation economists can draw upon. What is surprising is that despite rhetorical support for the use of these economic analysis tools in conservation valuations, in practice, these economic tools are used far less frequently in (...) conservation and biodiversity decision then they are in health decisions. Drawing on a simple database search and an analysis of universities that lead in both economics and environmental studies, this paper considers why conservation economists stick with philosophically and pragmatically difficult economic tools when they have other options, and argues that part of the reasons is the way conservation economics is framed and conceptualised. (shrink)

We simultaneously live in two worlds—our internal world of thoughts, values, desires, and experiences; and our external world in which we are born, and perform actions. Modernity, despite successfully developing our external world, has failed to develop our internal world. This has resulted in our lower nature being unleashed and a crisis of morals and values taking over society. This paper, drawing from the “science of consciousness” as detailed in the Indian tradition, looks at the nature of modernity and how (...) we can address the challenges being posed by it, by training our consciousness to higher levels. (shrink)

Sustainable development calls for choices among alternative policy options. It is a common view that such choices can be justified by appealing to an evaluative ranking of the options with respect to how their consequences affect a broad range of prudential and moral values. Three philosophically motivated proposals for analysing evaluative rankings are discussed: the measured merits model (e.g. Chang), the ordered values model (e.g. Griffin), and the permissible preference orderings model (Rabinowicz). The analysis focuses on the models’ potential for (...) making transparent how an evaluative ranking can contribute to a justified choice among options, particularly in situations that involve diverse values as typically found in debates on sustainable development. Such transparency plays a crucial role when policy rankings are going to be used as arguments in political decision processes. The measured merits model is found to have questionable consequences for the concept of sustainability, while the ordered values model calls for an axiological framework that cannot plausibly be spelled out for sustainability. The permissible preference orderings model is more promising. Its formal structure and its ability to deal with value-pluralism provide an interesting re-structuring of the problem of justifying choices in sustainability issues. (shrink)

Two options are incommensurate in value if neither is better than the other, and if a small improvement or worsening of one does not necessarily make it determinately better or worse than the other. If a person faces a sequence of choices between incommensurate options, she may end up with a worse options than she could have had, even though none of her choices are irrational. Yet it seems that rationality should save her from this bad outcome. This is (...) the practical problem posed by incommensurability of values, and it may be solved by a new account of practical reasoning. (shrink)

In recent years, experts in geriatric care have increasingly promoted the use of reminiscence museums, collections of period objects that are used to help senior citizens draw on old memories in order to recall and talk about their past. Hands Off Not an Option is a practical guide to making and using such collections, showing how to establish and fill out a museum and illustrating the ways it can be used within senior care facilities and within individual homes. The (...) book will thus be of value both to those practicing in geriatric medical and social care and to individual families working with aged relatives. The book includes 1 DVD. (shrink)

Shareholder value orientation has been introduced as a means to improve the performance of the corporation. The paper investigates the theoretical justification for the claim that increasing shareholder value is the purpose of corporate governance. It demonstrates that shareholder value is the control principle, not the purpose of the firm. The idea that shareholder value is the only goal of the corporation is a mistaken transfer from the financial to the industrial firm. The paper also questions (...) that the merger of manager interests and owner interests introduced by the remuneration of managers by stock options improves the management performance. The self-apportioning of stock options by the management is in danger of becoming a form of insider trading. (shrink)

There is much debate on how social values should influence scientific research. However, the question of practical applicability of philosophers’ normative proposals has received less attention. Here, we test the attainability of Matthew J. Brown’s (2020) Moral Imagination ideal (MI ideal), which aims to help scientists to make warranted value-judgements through reflecting on goals, options, values, and stakeholders of research. Here, the tools of the MI ideal are applied to a climate modelling setting, where researchers are developing aerosol-cloud interaction (...) (ACI) parametrizations in an Earth System Model with the broader goal of improving climate sensitivity estimation. After the identification of minor obstacles to applying the MI ideal, we propose two ways to increase its applicability. First, its tools should be accompanied with more concrete guidance for identifying how social values enter more technical decisions in scientific research. Second, since research projects can have multiple goals, examining the alignment between broader societal aims of research and more technical goals should be part of the tools of the MI ideal. (shrink)

I argue that a practical deliberator may have good reasons not to consider some option even though that option is what there is most reason, all things considered, for her to do. The most interesting reasons not to consider an option arise in cases where an agent cannot be compensated in kind for the loss of goods that she values. Where this is the case, an attitude of conservatism is warranted: it is reasonable to begin deliberation by (...) considering only ‘no-regrets’ options, and to proceed to considering other possibilities only when the cost of continuing to consider only no-regrets options has become intolerably high. The account that I develop illuminates intuitions that help motivate deontological moral thought, and it can shed light on the complaint that there is something wrong with the way in which schematic thought experiments are frequently used in philosophy to drive moral theorizing. (shrink)

People value highly the digital technologies that are so pervasive in everyday life and work, certainly as measured by economists. Yet there are also evident harms associated with them, including the likelihood that they are affecting political discourse and choices. The features of digital markets mean they tend toward monopoly, so great economic and political power lies in the hands of a small number of giant companies. While tougher regulation may be one way to tackle the harms they create, (...) it does not get at the structural problem, which is their advertising-driven business model. The hunt for people's attention drives algorithmic promotion of viral content to get ever-more clicks. An alternative policy intervention to reclaim public space would be to create a public service competitor that could drive competition along other dimensions. Online space must be reclaimed as a public space from the privately-owned US and Chinese digital giants. (shrink)

Incidental findings and secondary findings, being results that are unrelated to the diagnostic question, are the subject of an important debate in the practice of clinical genomic medicine. Arguments for reporting these results or not doing so typically relate to the principles of autonomy, non-maleficence and beneficence. However, these principles frequently conflict and are insufficient by themselves to come to a conclusion. This study investigates empirically how ethical principles are considered when actually reporting IFs or SFs and how value (...) conflicts are weighed. A qualitative focus group study has been undertaken, including a multidisciplinary group of professionals from Belgian centres for medical genetics. The data were analysed thematically. All eight Belgian centres participated in this study. Ethical values were frequently referred to for disclosure policies on IFs and SFs. Participants invoked respect for patient autonomy to support the disclosure of IFs and opt-out options for IFs and SFs, non-maleficence for the professional delineation of reportable IFs and opt-out options for IFs and SFs and beneficence for the mandatory reporting of actionable IFs, the delineation of reportable IFs and a current decline of actively pursued SFs. Professional assumptions about patients’ genetic literacy were an important factor in the weighing of values. In line with the traditional bioethical discourse, the mandatory reporting of actionable IFs might be interpreted as a “technological, soft paternalism”. Restricting patients’ choices might be acceptable, but then its motives should be valid and its beneficent outcomes highly plausible. Hence, the presuppositions of technological, soft paternalism - patients’ inability to make informed decisions, normative rationality, the efficacy of beneficent outcomes and the delineated spectrum of beneficence - should be approached critically. Moreover, distributive justice should be considered an important value in the delineation of the current scope of the ethical debate on IFs and SFs. This study of guiding values may stimulate the debate on the ethical grounds for a solid policy on IFs and SFs internationally. (shrink)

How ought you to evaluate your options if you're uncertain about what's fundamentally valuable? A prominent response is Expected Value Maximisation (EVM)—the view that under axiological uncertainty, an option is better than another if and only if it has the greater expected value across axiologies. But the expected value of an option depends on quantitative probability and value facts, and in particular on value comparisons across axiologies. We need to explain what it is (...) for such facts to hold. Also, EVM is by no means self-evident. We need an argument to defend that it’s true. This book introduces an axiomatic approach to answer these worries. It provides an explication of what EVM means by use of representation theorems: intertheoretic comparisons can be understood in terms of facts about which options are better than which, and mutatis mutandis for intratheoretic comparisons and axiological probabilities. And it provides a systematic argument to the effect that EVM is true: the theory can be vindicated through simple axioms. The result is a formally cogent and philosophically compelling extension of standard decision theory, and original take on the problem of axiological or normative uncertainty. (shrink)

Van Fraassen has argued that many philosophical positions should be understood as stances rather than factual beliefs. In this paper I discuss the vexed question of whether and how such stances can be rationally justified. Until this question has been satisfactorily answered, the otherwise promising stance approach cannot be considered a viable metaphilosophical option. One can find hints, and the beginnings of an answer to this question, in van Fraassen’s (and others’) writings, but no general, fully clear and convincing (...) account has been offered. I aim to provide such an account. In the first section I introduce the concept of a stance. In the second section I argue that stances may be justified pragmatically, in terms of both their epistemic fruits, and their coherence with values. In the third section I further consider the relationship between stances and values, arguing that the value-ladenness of a stance does not render it immune to rational scrutiny. In the final section I look at van Fraassen’s version of epistemological voluntarism, which plays a central role in his conception of the basis on which a stance may be rationally adopted. I show that voluntarism provides a theoretical framework, and approach to epistemology, within which the forms of justification appropriate to stance choice I outline in sections 2 and 3 find a natural home. (shrink)

The spectrum argument purports to show that the better-than relation is not transitive, and consequently that orthodox value theory is built on dubious foundations. The argument works by constructing a sequence of increasingly less painful but more drawn-out experiences, such that each experience in the spectrum is worse than the previous one, yet the final experience is better than the experience with which the spectrum began. Hence the betterness relation admits cycles, threatening either transitivity or asymmetry of the relation. (...) This paper examines recent attempts to block the spectrum argument, using the idea that it is a mistake to affirm that every experience in the spectrum is worse than its predecessor: an alternative hypothesis is that adjacent experiences may be incommensurable in value, or that due to vagueness in the underlying concepts, it is indeterminate which is better. While these attempts formally succeed as responses to the spectrum argument, they have additional, as yet unacknowledged costs that are significant. In order to effectively block the argument in its most typical form, in which the first element is radically inferior to the last, it is necessary to suppose that the incommensurability is particularly acute: what might be called radical incommensurability. We explain these costs, and draw some general lessons about the plausibility of the available options for those who wish to save orthodox axiology from the spectrum argument. (shrink)

Most of those political philosophers who have tried to make sense of claims about degrees of freedom have proposed that the individual options available to the agent be weighted in terms of their values. Most prominent among these authors are Charles Taylor, Amartya Sen, Richard Arneson and Richard Norman. This value-based approach to measuring freedom can be shown to conflict with the view that we are interested in measuring freedom only because freedom has non-specific value. It therefore renders (...) degree-of-freedom statements normatively superfluous. Moreover, even if interpreted as a way of making purely rhetorical sense of such statements, the approach has counterintuitive implications. (shrink)

In Fact, value and philosophy education I tried to show how philosophy can help to overcome the fact-value divide that continues to plague education. In attempting this, I applied John Dewey’s suggestion that philosophy may help to integrate beliefs about matters of fact with values in society at large, to the curricular division between subjects that deal with knowledge of matters of fact and those that are largely devoted to subjective understanding and personal expression. The paper centres on (...) the claim that philosophical dialogue about what we should believe and value can help to effect a mutual adjustment between our reason and our sentiments and bring us to think as whole human beings. It argues the case by first looking at the use of reflective practical reason to effect a change in our desires and conduct when we deem them to be undesirable. The use of reason to provide us with courses of action and other practical remedies to deal with what we see as defects in our character suggests that our cognitive and affective powers are capable of working together through mutual adjustment. By extension, I argue that reason can help us to examine the moral dimension of problems and issues in various areas of study, while making our understanding of them responsive to our feelings. The introduction of an educational means to give effect to this mutual adjustment brings us back to the role of philosophy. Philosophy provides the opportunity for reasoned dialogue that brings the factual material that students encounter into connection with what they are learning to value. It brings a normative cast to the study of history, society, literature, art, science and technology and enables the knowledge that students gain through their studies to be applied to matters of value. In general, it brings moral sensitivity to all kinds of subject matter and enables students to apply their knowledge and intelligence to the formation of values. In the years since I wrote this piece, I had the privilege to assist with the initial draft of documents on ethical understanding as a general competence in the Australian national curriculum and of constructing and implementing a pilot program for ethical inquiry in New South Wales primary schools, which led to ethics becoming an option for students who do not attend religious instruction. In different ways, both experiences brought home to me the importance of incorporating considerations of value throughout the curriculum and the value of philosophical inquiry as a means of doing so. Reflection on these experiences resulted in my book Teaching Ethics in Schools. (shrink)

Incommensurability is the impossibility to determine how two options relate to each other in terms of conventional comparative relations. This book features new research on incommensurability from philosophers who have shaped the field into what it is today, including John Broome, Ruth Chang and Wlodek Rabinowicz. The book covers four aspects relating to incommensurability. In the first part, the contributors synthesize research on the competing views of how to best explain incommensurability. Part II illustrates how incommensurability can help us deal (...) with seemingly insurmountable problems in ethical theory and population ethics. The contributors address the Repugnant Conclusion, the Mere Addition Paradox and so-called Spectrum Arguments. The chapters in Part III outline and summarize problems caused by incommensurability for decision theory. Finally, Part IV tackles topics related to risk, uncertainty and incommensurability. Value Incommensurability: Ethics, Risk, and Decision-Making will be of interest to researchers and advanced students working in ethical theory, decision theory, action theory, and philosophy of economics. (shrink)

Should judgments of beauty play a guiding role in theoretical science even if beauty is not a sign of truth? In this paper I argue that they should in certain cases. If we analyze the rationality of theoretical pursuit using decision theory, a theory’s beauty can influence the utilities of the various options confronting the researcher. After considering the views of Pierre Duhem and Thomas Kuhn on aesthetics in science, I suggest that because we value freedom of inquiry we (...) rightly allow scientists some choice in how they value aesthetic properties of theories and thus some freedom to use beauty to guide their research program. (shrink)

The topic of this thesis is axiological uncertainty – the question of how you should evaluate your options if you are uncertain about which axiology is true. As an answer, I defend Expected Value Maximisation (EVM), the view that one option is better than another if and only if it has the greater expected value across axiologies. More precisely, I explore the axiomatic foundations of this view. I employ results from state-dependent utility theory, extend them in various (...) ways and interpret them accordingly, and thus provide axiomatisations of EVM as a theory of axiological uncertainty. (shrink)

GPs usually care for their patients for an extended period of time, therefore, requests to not only discontinue a patient’s treatment but to assist a patient in a suicide are likely to create intensely stressful situations for physicians. However, in order to ensure the best patient care possible, the competent communication about the option of physician assisted suicide as well as the assessment of the origin and sincerity of the request are very important. This is especially true, since patients’ (...) requests for PAS can also be an indicator for unmet needs or concerns. Twenty-three qualitative semi-structured interviews were conducted to in-depth explore this multifaceted, complex topic while enabling GPs to express possible difficulties when being asked for assistance. The analysis of the gathered data shows three main themes why GPs may find it difficult to professionally communicate about PAS: concerns for their own psychological well-being, conflicting personal values or their understanding of their professional role. In the discussion part of this paper we re-assess these different themes in order to ethically discuss and analyse how potential barriers to professional communication concerning PAS could be overcome. (shrink)

Non-epistemic values pervade climate modelling, as is now well documented and widely discussed in the philosophy of climate science. Recently, Parker and Winsberg have drawn attention to what can be termed “epistemic inequality”: this is the risk that climate models might more accurately represent the future climates of the geographical regions prioritised by the values of the modellers. In this paper, we promote value management as a way of overcoming epistemic inequality. We argue that value management can be (...) seriously considered as soon as the value-free ideal and inductive risk arguments commonly used to frame the discussions of value influence in climate science are replaced by alternative social accounts of objectivity. We consider objectivity in Longino's sense as well as strong objectivity in Harding's sense to be relevant options here, because they offer concrete proposals that can guide scientific practice in evaluating and designing so-called multi-model ensembles and, in fine, improve their capacity to quantify and express uncertainty in climate projections. (shrink)

In Spain before the 1990s there was no clear and explicit comprehensive training for future engineers with regard to social responsibility and social commitment. Following the Spanish university curricular reform, which began in the early 1990s, a number of optional subjects became available to students, concerning science, technology and society (STS), international cooperation, the environment and sustainability. The latest redefinition of the Spanish curriculum in line with the Bologna agreements has reduced the number of non-obligatory subjects, but could lead to (...) improving preparation for social responsibility due to the requirement that the design of curricula and the assessment of students should be based on competencies, some of which include human values and attitudes. (shrink)

Backdating of stock options is an example of an agency problem. It has emerged despite all the measures (i.e., new regulations and additional corporate governance mechanisms) aimed at addressing such problems? Beyond such negative controlling measures, a more positive empowering approach based on ethics may also be necessary. What ethical measures need to be taken to address the agency problem? What values and norms should guide the board of directors in protecting the shareholders' interests? To examine these issues, we first (...) discuss the role values and norms can play with respect to underlying corporate governance and the proper role of directors, such as transparency, accountability, integrity (which is reflected in proper mechanisms of checks and balances), and public responsibility. Second, we discuss various stakeholder approaches (e.g., government, directors, managers, and shareholders) by which conflicts of interest (i.e., the agency problem) can be addressed. Third, we assess the practice of backdating stock options, as an illustration of the agency problem, in terms of whether the practice is legally acceptable or ethically justifiable. Fourth, we proceed to an analysis of good corporate governance practice involving backdating options based on a series of ethical standards including: (1) trustworthiness; (2) utilitarianism; (3) justice; and (4) Kantianism. We conclude that while executive compensation schemes (e. g., stock options) were originally intended to help remedy the agency problem by tying together the interests of the executives and shareholders, these schemes may have actually become "part of the problem," and that the solution ultimately depends upon whether directors and executives accept that all of their actions must be based on a set of core ethical values. (shrink)

The (moral) permissibility of an act is determined by the relative weights of reasons, or so I assume. But how many weights does a reason have? Weight Monism is the idea that reasons have a single weight value. There is just the weight of reasons. The simplest versions hold that the weight of each reason is either weightier than, less weighty than, or equal to every other reason. We’ll see that this simple view leads to paradox in at least (...) two ways. We must complicate the picture somehow. I consider two candidate complications. The first, Parity Monism, is inspired by Ruth Chang’s suggestion that parity is a fourth comparative beyond the traditional three (>, <, =). This view complicates the single weight relation by allowing that the weights of reasons can be on a par. Unfortunately, Parity Monism resolves only one of the two paradoxes that afflict simple versions of Weight Monism. To resolve both paradoxes, we need our second candidate complication, Weight Pluralism. This view holds that reasons have at least two weight values (e.g., justifying weight and requiring weight) and these two values aren’t always equivalent. Parity is no substitute for Pluralism. (shrink)

Deontologists have long been upbraided for lacking an account of justified decision- making under risk and uncertainty. One response is to develop a deontological decision theory—a set of necessary and sufficient conditions for an act’s being permissible given an agent’s imperfect information. In this article, I show that deontologists can make more use of regular decision theory than some might have thought, but that we must adapt decision theory to accommodate agent- centered options—permissions to favor or sacrifice our own interests, (...) when doing so is overall morally worse. Accommodating options requires more than just amend- ing the decision-theoretic ‘value function’. We must change the decision rule as well. (shrink)

Background Physician-assisted suicide is a controversial issue and has sometimes raised emotion-laden reactions. Against this backdrop, we have analyzed how Swedish physicians are reasoning about physician-assisted suicide if it were to be legalized. Methods and participants We conducted a cross-sectional study and analyzed 819 randomly selected physicians’ responses from general practitioners, geriatricians, internists, oncologists, psychiatrists, surgeons, and all palliativists. Apart from the main questions about their attitude toward physician-assisted suicide, we also asked what would happen with the respondents’ own trust (...) in healthcare if physician-assisted suicide were legalized. Response options were that trust would decrease, not be influenced, or would increase. Results We identified a strong statistical association between on the one hand those whose own trust would increase and who were pro physician-assisted suicide, and on the other hand those who were against physician-assisted suicide and whose own trust would decrease [relative risk: 16.7 (95% confidence interval: 10.2–27.2)]. Among those whose own trust would not be influenced (n = 456), 60% were pro pysician-assisted suicide, 16% were against, and 24% were undecided. Of those whose trust would increase or not be influenced, a large majority supported autonomy-based arguments, whereas those whose trust would decrease supported non-maleficence-based arguments. Conclusion Analyzing the answers after having divided respondents into those whose own trust in healthcare would decrease or increase and not be influenced brings about interesting results such as how the three groups prioritize arguments for and against physician-assisted suicide. This way of analyzing the data seems to be a promising strategy when identifying value-impregnated factual claims. (shrink)