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Lexicographic preferences in Pascal's Wager.
- Source :
-
European Journal of the History of Economic Thought . Feb2022, Vol. 29 Issue 1, p104-111. 8p. 1 Chart. - Publication Year :
- 2022
-
Abstract
- Pascal's wager is one of the most influential arguments in philosophy and decision theory. This paper reformulates Pascal's wager in terms of two-outcome finite payoffs (one before death and one after death). The proposed reformulation accentuates the lexicographic nature of decision maker's preferences. Lexicographic preferences violate the continuity axiom—a standard assumption of many theories of decision making under risk and uncertainty. Since Pascal's wager assumes lexicographic (i.e., discontinuous) preferences, it is appropriate to represent the latter with lexicographic utility and not conventional expected utility theory. [ABSTRACT FROM AUTHOR]
- Subjects :
- *DECISION theory
*UTILITY theory
*EXPECTED utility
*THEORY (Philosophy)
Subjects
Details
- Language :
- English
- ISSN :
- 09672567
- Volume :
- 29
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- European Journal of the History of Economic Thought
- Publication Type :
- Academic Journal
- Accession number :
- 155482553
- Full Text :
- https://doi.org/10.1080/09672567.2021.1914700