A defense of expected utility theory

This thesis defends expected utility theory against Lara Buchak’s challenges. First, it points out that Buchak’s arguments are not sufficient to defeat expected utility theory. Whether expected utility theory or Buchak’s risk-weighted expected utility theory is rational depends on a pre-theoretical question that whether it is rational to consider some global properties in decision making. However, Buchak does not provide a solid ground to reject the rationale favored by expected utility theory. Second, if Buchak is right on rationality (it is indeed rational to consider some global properties), expected utility theory can do an equally good job through global individuation. In this sense, these two theories are representing global properties through different approaches.