13_AS_4b_lec_a

New oxford american dictionary in other words what is

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Unformatted text preview: ule 4b: Ethical perspectives Moral judgement: Possible frameworks Utilitarianism Utilitarianism “The doctrine that actions are right if they are useful or for the benefit of a majority.” (New Oxford American Dictionary) In other words: “What is best is what leads to the best outcome for most.” The end goal can justify the means Problem: hard to define the optimisation problem How do you define “best”? (back to square 1) How do you define “most”? (the majority could be the self - ‘Ethical egoism’) E.g.: is profit an end or a goal? Doesn’t always work: 20 people on a boat: one needs to be killed for the others to survive. What do you do? 18/20 Actuarial Statistics – Module 4b: Ethical perspectives Moral judgement: Possible frameworks Deontology 1 Introduction - Ethics Some elements of definition The process 2 Moral awareness in context: Actuarial applications Discrimination in insurance Heterogeneity in insurance Heterogeneity - Illustrations Discrimination - Illustrations 3 Moral judgement: Possible frameworks...
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