Consequentialism and Decision Making Flashcards

Flashcards created to review key concepts, terms, and figures from the lecture notes on consequentialism and decision-making.

What is consequentialism?

The idea that when making decisions, one should look at the consequences or results of actions and choose the option that produces the best overall outcome.

What is effective altruism?

A movement that encourages people to use their money and resources in ways that produce the greatest amount of good or help.

What does the "Pressing" criterion evaluate in effective altruism?

It evaluates which problems are the most important or urgent.

What does the "Tractable" criterion evaluate in effective altruism?

It evaluates which problems are most solvable or where actions can make substantial progress.

What does the "Neglected" criterion evaluate in effective altruism?

It evaluates which problems are not receiving enough attention or resources from others.

Who is Peter Singer?

A philosopher and a leading proponent of consequentialism.

What is Peter Singer's extreme consequentialist position?

The belief that the nature of an action taken does not matter at all; only the result matters.

What difficulty regarding outcomes exists in consequentialism?

Decisions do not guarantee outcomes.

What question inspired by Peter Singer is asked in Chapter 4?

"Where can my money help the most?"

What are the two pillars of consequentialism?

Beliefs and Values.

How are "Beliefs" defined in consequentialist decision-making?

An understanding of how the world works and what consequences are likely to happen after making a choice, addressing the question: "What will happen?"

How are "Values" defined in consequentialist decision-making?

Knowing how much you value possible outcomes, addressing the question: "Which result do I want?"

What factors make the "Beliefs" pillar difficult in decision-making?

Difficult causal reasoning, mathematical calculations, and uncertainty.

What does consequentialist thinking usually deal with instead of certainty?

Probabilities.

What central question is asked in Pascal's Wager?

"Should we act as if God exists?"

Who proposed the Greatest Happiness Principle?

John Stuart Mill.

How is happiness defined under the Greatest Happiness Principle?

Happiness equals pleasure plus the absence of pain.

Who proposed the concept of Equal Consideration?

Jeremy Bentham.

What does Jeremy Bentham's principle of Equal Consideration state?

Everyone's happiness should count equally, and the decision-maker is not more important than others.

What are the two demands of Utilitarianism?

Impartial Beneficence and Instrumental Harm.

How do Impartial Beneficence and Instrumental Harm differ?

Impartial Beneficence is the willingness to sacrifice yourself to help others, while Instrumental Harm is the willingness to harm or sacrifice someone's well-being if it benefits the greater good.

What is the distinction between "wanting" and "liking"?

Wanting is the desire or craving for something, while liking is actually enjoying something once you have it.

What are the three types of happiness described in the text?

Experienced Happiness (NOW), Remembered Happiness (PAST), and Prospective Happiness (FUTURE).

What creates bias in happiness-based decision-making?

We want to maximize experienced happiness, but decisions are often based on remembered and prospective happiness.

What alternative to happiness is mentioned as driving people?

Meaning (the search for meaning).

What is Expected Utility Theory?

A theory stating that one should choose the option with the highest expected utility.

How is "Utility" defined in utilitarian decision-making?

A numerical representation of how much a person values or prefers an outcome.

What are the three risk preferences defined in "Risky Business"?

Risk Averse (prefers a sure thing/certain outcome), Risk Seeking (prefers a bet), and Risk Neutral (either/indifferent).

What is the Two-Envelope Problem?

A paradox that demonstrates a possible limitation in Expected Utility Theory, showing that utility theory may not always give a coherent answer.

What advice does the author give regarding decision trees and final decisions?

Use a decision tree to analyze the situation and test different probabilities/utilities for robustness, but also rely on intuition for the final decision.