Learning the Value of Value Learning
This work broadens the conceptual foundations of rational choice by unifying epistemic and axiological refinement, addressing a foundational problem in decision theory and ethics.
The paper extends the Jeffrey-Bolker framework to model value refinement in decision-making, proving a value-of-information theorem and showing that mutual refinement transforms zero-sum games into positive-sum interactions with Pareto improvements in Nash bargaining.
Standard decision frameworks address uncertainty about facts but assume fixed options and values. We extend the Jeffrey-Bolker framework to model refinements in values and prove a value-of-information theorem for axiological refinement. In multi-agent settings, we establish that mutual refinement will characteristically transform zero-sum games into positive-sum interactions and yield Pareto-improvements in Nash bargaining. These results show that a framework of rational choice can be extended to model value refinement. By unifying epistemic and axiological refinement under a single formalism, we broaden the conceptual foundations of rational choice and illuminate the normative status of ethical deliberation.