Decision Theory and Life Choices

Russell Pannier Decision Theory and Life Choices Introduction My topic is the relationship between decision dieory and life choices. The decision-theoretic concepts I shall use are simply refinements of commonsense concepts. The terminology may be new, but readers should find the ideas familiar.Thus, it would be possible to bypass the topic ofdecision theory altogether and immediately focus upon life choices. Given this, one might well ask why decision-theoretic concepts should be invoked at all. My reason is this. Presumably, many readers have already encountered decision theory in some context or other, perhaps in an economics course, a finance course, or a law course. This common background of understanding provides a useful basis for thinking about life choices. Unlike much contemporary philosophy, decision theory has a grip on certain concepts tiiat are essential for any adequate understanding of life choices—concepts such as consciousness , time, desire, belief, uncertainty, and choice. LOGOS 2:4 FALL I 999 ?G6LOGOS This observation generates another question, "But if that's true, why go into the topic oflife choices at all? Can't you just stay within the boundaries of decision dieory itself?" The difficulty is that decision tiieory, at least as customarily practiced, has an unduly narrow focus for my purposes, a focus that includes subjects such as investment strategies, marketing strategies, military strategies, and legal tactics. As important as such concerns are, they are not inclusive enough to incorporate the topic oflife choices. So, while it's useful to begin with decision theory, it's necessary to extend it to larger issues. WhatAre Life Choices? A life choice is a choice that can't be avoided, an alternative each of us must resolve in one way or another in virtue of our participation in the human condition. FollowingWilliam James, I shall regard as paradigms oflife choices die decision whetiier to act as ifone has freedom ofwill, die decision whetiier to take one's own life, and die decision whether to live as iftiiere is a personal ground ofbeing.1 An example tiiat could be added to James's list is die decision whether to live as ifcompassion is more deeply embedded in the heart dian malice. Such alternatives can't be avoided. Either one chooses to take one's own life or one does not. Either one chooses to live as if one has freedom of choice or one does not. Eitiier one lives as if there is a personal ground of being or one does not. Such choices can be contrasted with choices such as, "Should I use my last dollar to buy a giant Kit Kat bar or a bag oftaco chips?"That choice could be avoided simply by spending one's last dollar on, say, a #10 Mickey-Finn trout streamer. I hope tiiat diese remarks are sufficient to convey the general concept of a life choice. Unfortunately, tiiey are perhaps not completely philosophically adequate. It requires only a moment to tiiink of apparent counterexamples. What about the choice whether to DECISION THEORY AND LIFE CHOICES ever buy a giant Kit Kat bar or not?That seems to be a choice everyone must make. So, there is an apparent problem. Obviously, I don't want to include diose kinds of choices. What shouldbe said? Perhaps the following will temporarily suffice . Each ofus is compelled to resolve the giant Kit Kat bar choice in the sense diat each ofus either buys at least one giant Kit Kat bar during our lifetime or we don't. But there is no necessity that we ever consciously confront the choice. Think of all those who have never heard ofgiant Kit Kat bars, or, even ifthey have, don't realize that they are things to eat, as opposed to being unusual cats. Such persons have die choice in the sense I have articulated, but there is another sense in which they would have the choice only ifthey consciously confront it. This reflection suggests an amendment ofthe definition. It might be said that a life choice is a choice that not only can't be avoided, but also must inevitably be confronted by everyone at some level of consciousness. For example, the choice whetiier...