Good and bad ways to think about downside risks

Abstract

People have various perspectives when evaluating the risks associated with their altruistic actions. Some people have an unconcerned perspective, believing that they should not worry about the negative consequences of their actions. Others have a harm-avoidance perspective, believing that they should avoid any action that could cause harm, even if the expected benefits outweigh the risks. Still others have a compliance perspective, believing that they should only take actions that are considered morally acceptable by others. This article argues that the pure expected value (EV) perspective is the most valid perspective and that it requires considering both the potential benefits and potential harms of an action. This approach does not require explicitly calculating the expected value; often, a quick, qualitative, intuitive assessment of EV will be warranted. – AI-generated abstract.