PHIL 1101 Lecture Notes - Lecture 4: Subjective Expected Utility, Blaise Pascal, Expected Utility Hypothesis
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Justified because its in one"s best interest to hold it. Using theoretical rationality is considered to be a dead end. Act state outcome theory/method (aso) of practical rationality. When you are in a decision making experience you have a set of available actions, there are a set of available states of the world, and together these create a set of available outcomes. Each outcome is assigned a ranking based on like or dislike. Ex. cousin doesn"t want to wear seatbelts and he doesn"t have to. Could escape if he drove into lake, but it"s unlikely. Could crash and die, and it"s likely. One must consider the outcomes, rankings, and their likelihood. Whichever act has the highest subjective expected utilities is you best bet. The person who fallacy: i know a person who just because you know someone who may have gotten lucky does not mean that it"s reasonable for you to do the same thing.
