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• W3204802085 abstract "Abstract While ordinary decision theory focuses on empirical uncertainty, real decision-makers also face normative uncertainty: uncertainty about value itself. From a purely formal perspective, normative uncertainty is comparable to (Harsanyian or Rawlsian) identity uncertainty in the ‘original position’, where one’s future values are unknown. A comprehensive decision theory must address twofold uncertainty – normative and empirical. We present a simple model of twofold uncertainty, and show that the most popular decision principle – maximizing expected value (‘Expectationalism’) – has different formulations, namely Ex-Ante Expectationalism, Ex-Post Expectationalism, and hybrid theories. These alternative theories recommend different decisions, reasoning modes, and attitudes to risk. But they converge under an interesting (necessary and sufficient) condition." @default.
• W3204802085 created "2021-10-11" @default.
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• W3204802085 date "2021-10-11" @default.
• W3204802085 modified "2023-10-03" @default.
• W3204802085 title "Decision under normative uncertainty" @default.
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• W3204802085 doi "https://doi.org/10.1017/s0266267121000201" @default.
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