Petra Kosonen

I argue for the principle of Anonymity, according to which two populations are equally good whenever they have the same anonymous distribution of wellbeing. I first show that, given transitivity of the at-least-as-good-as relation, Anonymity is entailed by the ``Non-Identity Principle'', according to which the consequence of bringing better rather than worse lives into existence is, all else equal, better. I then argue for the Non-Identity Principle on the basis that if it were false, it would follow that we fail to improve the world when we make existing people better off, while at the same time replacing worse-off future people with different better-off future people. Since this is implausible, we should accept the Non-Identity Principle, and therefore Anonymity as well.

Suppose that you prefer A to B, B to C, and C to A. Your preferences violate Expected Utility Theory by being cyclic. Money-pump arguments offer a way to show that such violations are irrational. Suppose that you start with A. Then you should be willing to trade A for C and then C for B. But then, once you have B, you are offered a trade back to A for a small cost. Since you prefer A to B, you pay the small sum to trade from B to A. But now you have been turned into a money pump. You are back to the alternative you started with but with less money. This Element shows how each of the axioms of Expected Utility Theory can be defended by money-pump arguments of this kind. The Element also defends money-pump arguments from the standard objections to this kind of approach. This title is also available as Open Access on Cambridge Core.