jsteinhardt comments on Against utility functions - Less Wrong Discussion
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I think part of Eliezer's point was also to introduce decision theory as an ideal for human rationality. (See http://lesswrong.com/lw/my/the_allais_paradox/ for example.) Without talking about utility functions, we can't talk about expected utility maximization, so we can't define what it means to be ideally rational in the instrumental sense (and we also can't justify Bayesian epistemology based on decision theory).
So I agree with the problem stated here, but "let's stop talking about utility functions" can't be the right solution. Instead we need to emphasize more that having the wrong values is often worse than being irrational, so until we know how to obtain or derive utility functions that aren't wrong, we shouldn't try to act as if we have utility functions.
It's not obvious to me that Qiaochu would endorse utility functions as a standard for "ideal rationality". I, for one, do not.
Talking about utility functions can be useful if one believes any of the following about ideal rationality, as a concrete example of what one means if nothing else.
I guess when you say you don't "endorse utility functions" you mean that you don't endorse 1 or 2. Do you endorse any of the others, and if so what would you use instead of utility functions to illustrate what you mean?
It's hard for me to know that 4 and 5 really mean since they are so abstract. I definitely don't endorse 1 or 2 and I'm pretty sure I don't endorse 4 either (integrating over uncertainty in what you meant). I'm uncertain about 3; it seems plausible but far from clear. I'm certainly not consequentialist and don't want to be, but maybe I would want to be in some utopian future. Again, I'm not really sure what you mean by 5, it seems almost tautological since everything is a mathematical object.
Even if you don't think it's the ideal, utility based decision theory it does give us insights that I don't think you can naturally pick up from anywhere else that we've discovered yet.