The Method Rawls Uses to Derive Principles for Determining What

question 20

True/False

The method Rawls uses to derive principles for determining what social institutions are just is an appeal to an imaginary situation in which people would choose principles not knowing certain possibly biasing things about themselves.

---

Definitions:

Expected Payoff

The anticipated return of an investment or decision under uncertainty, calculated as a weighted average of all possible outcomes.

Posterior Probabilities

The probabilities of different possible outcomes or hypotheses being true after considering new evidence, rephrasing the concept in a broader context.

Prior Probabilities

The probabilities assigned to events before any new evidence is considered, often used in Bayesian analysis.

Expected Monetary Value

A calculated average of possible outcomes, where each outcome is weighted by its probability of occurrence and its monetary impact.