Opportunity Costs and Resource Allocation Problems: Epistemology for Finite Minds

Abstract

Abstract Overwhelmingly, philosophers tend to work on the assumption that epistemic justification is a normative status that supervenes on the relation between a cognitive subject, some body of evidence, and a particular proposition (or “hypothesis”). This article will explore some motivations for moving in the direction of a rather different view. On this view, we are invited to think of the relevant epistemic norm(s) as applying more widely to the competent exercise of epistemic agency, where it is understood that cognitive subjects are simultaneously engaged in a number of different epistemic pursuits (distinct “lines of inquiry”), each placing irreconcilable demands on our limited cognitive resources. In effect, adopting this view would require shifting our normative epistemic concern away from the question of how a subject stands with respect to the evidence bearing on the hypothesis at stake in any one line of inquiry, and over onto the question of how well they cope with the inherent risks of epistemic resource management across several lines of inquiry. While this conclusion brings to light important connections between practical and epistemic rationality, it does not collapse the distinction between them. It does, however, constitute a step in the direction of a more systematically developed account of “non-ideal epistemology.”