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Value and unacceptable risk

机译：价值和不可接受的风险

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Consider a transitive value ordering of outcomes and lotteries on outcomes, which satisfies substitutivity of equivalents and obeys "continuity for easy cases," i.e., allows compensating risks of small losses by chances of small improvements. Temkin (2001) has argued that such an ordering must also -rather counter-intuitively - allow chances of small improvements to com-pensate risks of huge losses. In this paper, we show that Temkin's argument is flawed but that a better proof is possible. However, it is more difficult to determine what conclusions should be drawn from this result. Contrary to what Temkin suggests, substitutivity of equivalents is a notoriously controversial principle. But even in the absence of substitutivity, the counter-intuitive conclusion is derivable from a strengthened version of continuity for easy cases. The best move, therefore, might be to question the latter principle, even in its original simple version: as we argue, continuity for easy cases gives rise to a sorites.
机译：考虑结果和彩票在结果上的传递性价值排序，该等价性满足等价的替代性，并服从“简单案例的连续性”，即，可以通过小幅改善的机会来补偿小额亏损的风险。 Temkin（2001）认为，这样的命令还必须-有点违反直觉-允许有小幅改善的机会，以弥补巨大损失的风险。在本文中，我们证明了Temkin的观点是有缺陷的，但是有更好的证明是可能的。但是，确定从该结果中得出什么结论更加困难。与Temkin的建议相反，等效替代是一个臭名昭著的原则。但是，即使在没有替代性的情况下，违反直觉的结论也可以从简单情况下连续性的增强版本中得出。因此，最好的举动可能是质疑后一个原则，即使是最初的简单形式也是如此：正如我们所争论的那样，简单案例的连续性产生了一个孤单。

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