Keyword: decision making
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Anderson, Elizabeth. Value in Ethics and Economics
1993, Cambridge: Harvard University Press.
Topics: Economics; Normative Ethics; Political Economy
Keywords: decision making; economics moral and ethical aspects; markets moral and ethical aspects; reason; value
Traditions: Analytic; North American
Languages: English

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Added by: Rochelle DuFord
Summary: Elizabeth Anderson offers a new theory of value and rationality that rejects cost-benefit analysis in our social lives and in our ethical theories. This account of the plurality of values thus offers a new approach, beyond welfare economics and traditional theories of justice, for assessing the ethical limitations of the market. In this light, Anderson discusses several contemporary controversies involving the proper scope of the market, including commercial surrogate motherhood, privatization of public services, and the application of cost-benefit analysis to issues of environmental protection.
Comment: This book as a whole would be an excellent addition to an upper level course on morals and markets. The last three chapters (7-9) cover a number of applied issues in economics and ethics. Chapter 8, "Is Women's Labor a Commodity" would be an especially good addition to a course on business ethics or biomedical ethics that discusses paid surrogacy.
Difficulty: Intermediate
Recommended use: Introductory, Specialised

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Ullmann-Margalit, Edna. Big Decisions: Opting, Converting, Drifting
2006, Ullmann-Margalit, Edna (2006). Big Decisions: Opting, Converting, Drifting. Royal Institute of Philosophy Supplement 58:157-172.
Topics: Normative Ethics Keywords: big decisions; decision making; rational choice; transformative experience
Traditions: Analytic Languages: English
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Added by: Petronella Randell

Abstract: I want to focus on some of the limits of decision theory that are of interest to the philosophical concern with practical reasoning and rational choice. These limits should also be of interest to the social-scientists’ concern with Rational Choice.

Comment: Ullmann-Margalit's work on big decisions is a significant precursor to L.A. Paul's work on transformative experience. This paper introduces the idea of big decisions as a problem for decision theory, and would be suitable as the essential or further reading on a week discussing challenges to decision theory, rational choice, or on transformative experience.
Difficulty: Easy
Recommended use: Further, Introductory
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