2023
DOI: 10.1093/bjps/axaa003
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The Value of Biased Information

Abstract: In this article, I cast doubt on an apparent truism: namely, that if evidence is available for gathering and use at a negligible cost, then it’s always instrumentally rational for us to gather that evidence and use it for making decisions. Call this the ‘value of information’ thesis. I show that the value of information thesis conflicts with two other plausible theses. The first is the view that an agent’s evidence can entail non-trivial propositions about the external world. The second is the view that episte… Show more

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Cited by 20 publications
(4 citation statements)
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“…One might question the assumption that rational agents always maximize expected utility (Buchak 2010;Campbell-Moore and Salow 2020) or that rationality requires precise credences (Bradley and Steele 2016;Wheeler 2021). 9 Relaxing these assumptions leads to cases where you can be 9 One could also question the assumption that learning can always be modeled as learning an element of a partition (Salow and Ahmed 2019;Dorst 2020;Das 2023), which is foreshadowed by Williamson (2000, pp. 230-7).…”
Section: What Does the Argument Show?mentioning
confidence: 99%
“…One might question the assumption that rational agents always maximize expected utility (Buchak 2010;Campbell-Moore and Salow 2020) or that rationality requires precise credences (Bradley and Steele 2016;Wheeler 2021). 9 Relaxing these assumptions leads to cases where you can be 9 One could also question the assumption that learning can always be modeled as learning an element of a partition (Salow and Ahmed 2019;Dorst 2020;Das 2023), which is foreshadowed by Williamson (2000, pp. 230-7).…”
Section: What Does the Argument Show?mentioning
confidence: 99%
“…24 All these constraints are synchronic in character: according to them, what an 22 For a more precise statement of the theorem and its proof, see Appendix A. 23 For the observation that failures of partitionality lead to failures of Good's inequality, see Ahmed and Salow (forthcoming), Dorst (forthcoming), and Das (2020). See the earlier footnote 3 for references to discusssions of how Good's inequality can fail in cases of dilation.…”
Section: Three Norms Of Instrumental Rationalitymentioning
confidence: 99%
“…As Das (2020) shows, since failures of partitionality can give rise to unreflective inquiries, they can lead to failures of Value of Evidence . But this phenomenon has nothing much to do with Rationality of Imprecision .…”
Section: Reflection and Conditionalizationmentioning
confidence: 99%
“…The idea that risk averse agents can sometimes rationally decline free information is defended in detail by Buchak (2010), Ahmed and Salow (2019), and Campbell‐Moore and Salow (2020). For other examples of adjustments to the standard expected‐value framework that allow for violations of Good's theorem, see Dorst (2020) and Das (forthcoming).…”
Section: Risk Aversion and Rational Ignorancementioning
confidence: 99%