Martin Peterson

The main result of this paper is a formal argument for the principle of maximizing expected utility that does not rely on the law of large numbers. Unlike the well-known arguments by Savage and von Neumann & Morgenstern, this argument does not presuppose the sure-thing principle or the independence axiom. The principal idea is to use the concept of transformative decision rules for decomposing the principle of maximizing expected utility into a sequence of normatively reasonable subrules. It is shown that this procedure provides a resolution of Allais's paradox that cannot be obtained by Savage-style or von Neumann & Morgenstern-style arguments.

Consequentialism, one of the major theories of normative ethics, maintains that the moral rightness of an act is determined solely by the act's consequences and its alternatives. The traditional form of consequentialism is one-dimensional, in that the rightness of an act is a function of a single moral aspect, such as the sum total of wellbeing it produces. In this book Martin Peterson introduces a new type of consequentialist theory: multidimensional consequentialism. According to this theory, an act's moral rightness depends on several separate dimensions, including individual wellbeing, equality and risk. Peterson's novel approach shows that moral views about equality and risk that were previously thought to be mutually incompatible can be rendered compatible, and his precise theoretical discussion helps the reader to understand better the distinction between consequentialist and non-consequentialist theories. His book will interest a wide range of readers in ethics.

This article introduces and explores a distinction between multi-dimensional and one-dimensional consequentialist moral theories. One-dimensional consequentialists believe that an act's deontic status depends on just one aspect of the act, such as the sum total of wellbeing it produces, or the sum total of priority- or equality-adjusted wellbeing. Multi-dimensional consequentialists believe that an act's deontic status depends on more than one aspect. They may, for instance, believe that the sum total of wellbeing produced by an act and the degree to which the wellbeing is equally distributed in the population affect the act's deontic status independently of each other. These two aspects cannot be reduced into any single (composite) aspect. Wellbeing and equality are two separate considerations that cannot be merged into some novel entity that accurately reflects both intuitions. On the multi-dimensional view I defend, such clashes between separate aspects are irresolvable and are best accounted for by claiming that moral rightness and wrongness are non-binary concepts. Some acts are, literally speaking, a little bit right (because they maximise wellbeing) and a little bit wrong (because they do not maximise equality).1

Pure time preference is a preference for something to come at one point in time rather than another merely because of when it occurs in time. In opposition to Sidgwick, Ramsey, Rawls, and Parfit we argue that it is not always irrational to be guided by pure time preferences. We argue that even if the mere difference of location in time is not a rational ground for a preference, time may nevertheless be a normatively neutral ground for a preference, and this makes it plausible to claim that the preference is rationally permitted