Jon Herington (Kansas State University): Reasons to Value the Security of Prudential Goods
Those of us who are risk averse with respect to our own wellbeing are attracted to options which promise less variance over the enjoyment of prudential goods. Whilst there is an ongoing debate over whether (and in what circumstances) preferences for security (i.e. less variance) are rational, a secondary thought is whether (and in what circumstances) we have reason to value security. In this paper I discuss three reasons one might believe that security contributes to the value of an option. First, it might fulfil a desire to avoid “pure risk”. Second, the security of basic goods might be necessary for individuals to formulate reasonably complex life plans. Finally, it might be a consequence of applying prioritarian weightings to the wellbeing of ex ante possible versions of oneself.