I once asked my AP English teacher why we spent so much time reading and analyzing fiction, and to my surprise, he couldn't answer me. (In retrospect, he deserves a lot of credit for being willing to admit his ignorance.) He said he would think about it, so I waited a few months and asked again, and he still didn't have an answer.
What I wouldn't do to have Less Wrong available during my high school years... which makes me wonder, where are the teenage would-be rationalists hanging out today? There seem to be fewer of them here than I would have expected.
I have a BA and MA in English Lit, and I can't sincerely answer you. I know several of the standard answers--most of which are derived from and are designed to promote various literary theories and the associated coterie of career minded professors. I left Lit in large part because of those (non-) answers, and did my PhD in Rhetoric instead.
Painting with a very broad brush here, but mainly why people study lit groups into five areas.
Art for art's sake-->new criticism, structuralism, deconstructuralism: those fields that see studying literature of value...
This is a response to Eliezer Yudkowsky's The Logical Fallacy of Generalization from Fictional Evidence and Alex Flint's When does an insight count as evidence? as well as komponisto's recent request for science fiction recommendations.
My thesis is that insight forms a category that is distinct from evidence, and that fiction can provide insight, even if it can't provide much evidence. To give some idea of what I mean, I'll list the insights I gained from one particular piece of fiction (published in 1992), which have influenced my life to a large degree:
So what is insight, as opposed to evidence? First of all, notice that logically omniscient Bayesians have no use for insight. They would have known all of the above without having observed anything (assuming they had a reasonable prior). So insight must be related to logical uncertainty, and a feature only of minds that are computationally constrained. I suspect that we won't fully understand the nature of insight until the problem of logical uncertainty is solved, but here are some of my thoughts about it in the mean time:
So a challenge for us is to distinguish true insights from unhelpful distractions in fiction. Eliezer mentioned people who let the Matrix and Terminator dominate their thoughts about the future, and I agree that we have to be careful not to let our minds consider fiction as evidence. But is there also some skill that can be learned, to pick out the insights, and not just to ignore the distractions?
P.S., what insights have you gained from fiction?
P.P.S., I guess I should mention the name of the book for the search engines: A Fire Upon the Deep by Vernor Vinge.