Metaphysics of risk and luck

Abstract

According to the modal account of luck it is a matter of luck that p if p is true at the actual world, but false in a wide‐range of nearby worlds. According to the modal account of risk, it is risky that p if p is true at some close world. I argue that the modal accounts of luck and risk do not mesh well together. The views entail that p can be both maximally risky and maximally lucky, but there is nothing which is both maximally lucky and maximally risky. I offer a novel theory of risk that fits together with the modal account of luck and demonstrate that it is both extensionally and formally superior to extant proposals.