A formal framework for deliberated judgment

Olivier Cailloux () and Yves Meinard
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Olivier Cailloux: PSL Research University, CNRS, LAMSADE
Yves Meinard: PSL Research University, CNRS, LAMSADE

Theory and Decision, 2020, vol. 88, issue 2, No 5, 269-295

Abstract: Abstract While the philosophical literature has extensively studied how decisions relate to arguments, reasons and justifications, decision theory almost entirely ignores the latter notions. In this article, we elaborate a formal framework to introduce in decision theory the stance that decision-makers take towards arguments and counter-arguments. We start from a decision situation, where an individual requests decision support. We formally define, as a commendable basis for decision-aid, this individual’s deliberated judgment, a notion inspired by Rawls’ contributions to the philosophical literature, and embodying the requirement that the decision-maker should carefully examine arguments and counter-arguments. We explain how models of deliberated judgment can be validated empirically. We then identify conditions upon which the existence of a valid model can be taken for granted, and analyze how these conditions can be relaxed. We then explore the significance of our framework for the practice of decision analysis. Our framework opens avenues for future research involving both philosophy and decision theory, as well as empirical implementations.

Keywords: Decision analysis; Justification; Empirical validation; Methodology (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s11238-019-09722-7

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