Premium
A calculus for ethics: A theory of the structure of value. Part I
Author(s) -
Smith Nicholas M.
Publication year - 2007
Publication title -
behavioral science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.371
H-Index - 45
eISSN - 1099-1743
pISSN - 0005-7940
DOI - 10.1002/bs.3830010205
Subject(s) - value (mathematics) , state (computer science) , calculus (dental) , function (biology) , mathematical economics , bellman equation , derivative (finance) , process (computing) , mathematics , state function , epistemology , computer science , philosophy , economics , algorithm , statistics , medicine , physics , thermodynamics , dentistry , evolutionary biology , financial economics , biology , operating system
This is the first of two articles dealing with a theory of values based upon a stochastic model of a system. Value is associated with the state of a system. The value of the state is defined as the sum of values of future states multiplied respectively by the probability of reaching them. The value of a thing is defined as the partial derivative of the state value function, and from this definition a method is derived for computing cost of things and effectiveness of processes which obtain them. Value postulates are developed for immortal and mortal systems, and various means of resolving conflicts in decision among values are considered. The process of concrescence is suggested as a synthesis of conflicting values which is logically similar to the scientific method.