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Inverse View
It is not the case that It is better to evaluate a decision by comparing its expected utility to the expected utilities of rival decisions.
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Reasons For
2 perspectives
Reason for 1 of 2
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1.
Expected utility comparisons presuppose well-defined probability assignments over outcomes, which are unavailable in genuine Knightian uncertainty.
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2.
When probabilities are indeterminate, maximin or robust satisficing rules provide more defensible decision criteria than expected utility maximization.
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Reason for 2 of 2
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1.
Evaluating decisions by expected utility collapses the distinction between a decision procedure and a criterion of rightness, a conflation Parfit and Railton both identify as a serious error.
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2.
A decision evaluated as optimal by expected utility comparison may systematically produce worse outcomes than one guided by rule-following or virtue, undermining the consequentialist rationale for the expected utility framework itself.
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Reasons Against
1 perspective
Reason against
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1.
A decision's expected utility depends on the probability of its execution as well as the expected consequences of the act it selects.
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2.
Evaluating a decision by an act's expected utility leads to faulty evaluations because the decision and the act may have different expected utilities.
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