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All Values Great and Small Alan Hájek. RESPONSES TO THE PASADENA GAME Don’t worry, be happy Worry, be unhappy.

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Presentation on theme: "All Values Great and Small Alan Hájek. RESPONSES TO THE PASADENA GAME Don’t worry, be happy Worry, be unhappy."— Presentation transcript:

1 All Values Great and Small Alan Hájek

2 RESPONSES TO THE PASADENA GAME Don’t worry, be happy Worry, be unhappy

3 Don’t worry, be happyPuzzle mongering! Unrealistic/pathological/ a ‘don’t care’ Enron defencePragmatism “We have enough problems” “Serves you right!”Models“St. Lucia” solution[-∞,∞]

4 Worry, be unhappy Decision theory is fine, something is wrong with the game The game is fine, something is wrong with decision theory

5 Decision theory is fine, something is wrong with the game Infinity is the culprit Finitism No infinite state spaces In general In decision problems No infinite expected utilities Probability on its own Utility on its own Probability and utility in tandem

6 Probability on its own Utility on its own Diminishing marginal utility Utilities are bounded Probability and utility in tandem KrepsKripkeInterpretivism Preference axioms

7 The game is fine, there is something wrong with decision theory Hyperreals/surreals Expected difference theory/relative expectations Symmetry breakersMechanismOrder probabilitiesOrder |utilities|Order |p.u| Imprecise probability to Pasadena game Weak expectations


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