If an agent is averse to risk, the risk generated by a ri... — Carmelics

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If an agent is averse to risk, the risk generated by a risky act must be included in each of that act's possible outcomes

Consequentialism Moral Responsibility

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1 reason for

2 reasons against

Reasons For

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Reason for

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1.Risk aversion is a relevant consideration for an agent's utility
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2.The expected-utility principle requires all relevant considerations to be included in outcomes
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3.Including risk in an outcome tends to lower that outcome's utility
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Reasons Against

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Reason against 1 of 2

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1.Risk aversion is already captured in the shape of an agent's utility function over outcomes, not in the outcomes themselves.
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2.Folding risk into outcomes double-counts aversion already expressed by diminishing marginal utility, violating von Neumann-Morgenstern axioms.
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3.Jeffrey's evidential decision theory treats desirability as defined over propositions, leaving no coherent slot for risk as a separable outcome component.
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Reason against 2 of 2

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