Chapter

Realism about Situations

Paul Weirich

in Realistic Decision Theory

Published in print August 2004 | ISBN: 9780195171259
Published online November 2004 | e-ISBN: 9780199834976 | DOI: http://dx.doi.org/10.1093/019517125X.003.0008
 Realism about Situations

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In ideal decision problems, the preference ranking of options has a stable top, but in some realistic problems there is no top option or a top option’s position is not stable–the option does not stay at the top if assumedto be realized. To handle such problems, this chapter endorses satisficing as a standard of evaluation. It also proposes adopting a self-supporting option. Self-support resembles ratification but exists more widely. A solution of a decision problem, acomprehensively rational option, maximizes self-conditional utility among self-supporting options. Its realization may require suitable preparation for the decision problem.

Keywords: preparation for decisions; ratification; satisficing; self-conditional utility; self-support; solution of a decision problem; stable preferences

Chapter.  11090 words.  Illustrated.

Subjects: Philosophy of Mathematics and Logic

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