A Paradox for Tiny Probabilities and Enormous Values. Beckstead, N. & Thomas, T. abstract bibtex We show that every theory of the value of uncertain prospects must have one of three unpalatable properties. Reckless theories recommend risking arbitrarily great gains at arbitrarily long odds for the sake of enormous potential; timid theories recommend passing up arbitrarily great gains to prevent a tiny increase in risk; nontransitive theories deny the principle that, if A is better than B and B is better than C, then A must be better than C. While nontransitivity has been much discussed, we draw out the costs and benefits of recklessness and timidity when it comes to axiology, decision theory, and moral uncertainty.
@article{beckstead_paradox_nodate,
title = {A {Paradox} for {Tiny} {Probabilities} and {Enormous} {Values}},
abstract = {We show that every theory of the value of uncertain prospects must have one of three unpalatable properties. Reckless theories recommend risking arbitrarily great gains at arbitrarily long odds for the sake of enormous potential; timid theories recommend passing up arbitrarily great gains to prevent a tiny increase in risk; nontransitive theories deny the principle that, if A is better than B and B is better than C, then A must be better than C. While nontransitivity has been much discussed, we draw out the costs and benefits of recklessness and timidity when it comes to axiology, decision theory, and moral uncertainty.},
language = {en},
author = {Beckstead, Nick and Thomas, Teruji},
pages = {41},
}
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