I am happy to announce a new paper I co-wrote with Anders Sandberg, which is now a public preprint (PDF). This is a link-post for that paper, and to a post on Lesswrong that contains a summary of some of the arguments.
Abstract: How much value can our decisions create? We argue that unless our current understanding of physics is wrong in fairly fundamental ways, there exists an upper limit of value relevant to our decisions. First, due to the speed of light and the definition and conception of economic growth, the limit to economic growth is a restrictive one. Additionally, a related far larger but still finite limit exists for value in a much broader sense due to the physics of information and the ability of physical beings to place value on outcomes. We discuss how this argument can handle lexicographic preferences, probabilities, and the implications for infinite ethics and ethical uncertainty.
Thanks David, this looks like a handy paper!
I don't agree with the argument that infinite impacts of our choices are of Pascalian improbability, in fact I think we probably face them as a consequence of one-boxing decision theory, and some of the more plausible routes to local infinite impact are missing from the paper:
There is some effect in this direction, but not a sudden cliff. There is plenty of room to generalize, not an in. We create models of alternative coherent lawlike realities, e.g. the Game of Life or and physicists interested in modeling different physical laws.