Precis of Risk and Rationality

Lara Buchak

doi:10.1007/s11098-017-0904-7

Precis of Risk and Rationality

Lara Buchak

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

Abstract

My book Risk and Rationality argues for a new alternative to the orthodox theory of rational decision-making. This alternative, risk-weighted expected utility maximization, holds that there are three important components involved in rational decision-making: utilities, probabilities, and risk-attitudes. This essay explains the basic outline of the theory and precisely how it differs from the orthodox theory. It also summarizes the main threads of argument in the book.

Original language	English (US)
Pages (from-to)	2363-2368
Number of pages	6
Journal	Philosophical Studies
Volume	174
Issue number	9
DOIs	https://doi.org/10.1007/s11098-017-0904-7
State	Published - Sep 1 2017
Externally published	Yes

All Science Journal Classification (ASJC) codes

Philosophy

Keywords

Decision theory
Expected utility
Instrumental rationality
Rank dependence
Risk
Risk-weighted expected utility

Access to Document

10.1007/s11098-017-0904-7

Cite this

@article{192ab8ecbf554dc6b25b2643fd0cd109,

title = "Precis of Risk and Rationality",

abstract = "My book Risk and Rationality argues for a new alternative to the orthodox theory of rational decision-making. This alternative, risk-weighted expected utility maximization, holds that there are three important components involved in rational decision-making: utilities, probabilities, and risk-attitudes. This essay explains the basic outline of the theory and precisely how it differs from the orthodox theory. It also summarizes the main threads of argument in the book.",

keywords = "Decision theory, Expected utility, Instrumental rationality, Rank dependence, Risk, Risk-weighted expected utility",

author = "Lara Buchak",

note = "Publisher Copyright: {\textcopyright} 2017, Springer Science+Business Media Dordrecht.",

year = "2017",

month = sep,

day = "1",

doi = "10.1007/s11098-017-0904-7",

language = "English (US)",

volume = "174",

pages = "2363--2368",

journal = "Philosophical Studies",

issn = "0031-8116",

publisher = "Springer Science and Business Media B.V.",

number = "9",

}

TY - JOUR

T1 - Precis of Risk and Rationality

AU - Buchak, Lara

PY - 2017/9/1

Y1 - 2017/9/1

N2 - My book Risk and Rationality argues for a new alternative to the orthodox theory of rational decision-making. This alternative, risk-weighted expected utility maximization, holds that there are three important components involved in rational decision-making: utilities, probabilities, and risk-attitudes. This essay explains the basic outline of the theory and precisely how it differs from the orthodox theory. It also summarizes the main threads of argument in the book.

AB - My book Risk and Rationality argues for a new alternative to the orthodox theory of rational decision-making. This alternative, risk-weighted expected utility maximization, holds that there are three important components involved in rational decision-making: utilities, probabilities, and risk-attitudes. This essay explains the basic outline of the theory and precisely how it differs from the orthodox theory. It also summarizes the main threads of argument in the book.

KW - Decision theory

KW - Expected utility

KW - Instrumental rationality

KW - Rank dependence

KW - Risk

KW - Risk-weighted expected utility

UR - https://www.scopus.com/pages/publications/85017512331

UR - https://www.scopus.com/pages/publications/85017512331#tab=citedBy

U2 - 10.1007/s11098-017-0904-7

DO - 10.1007/s11098-017-0904-7

M3 - Article

AN - SCOPUS:85017512331

SN - 0031-8116

VL - 174

SP - 2363

EP - 2368

JO - Philosophical Studies

JF - Philosophical Studies

IS - 9

ER -

Precis of Risk and Rationality

Abstract

All Science Journal Classification (ASJC) codes

Keywords

Access to Document

Other files and links

Fingerprint

Cite this