Abstract
A case is made for supposing that the total probability accounted for in a decision analysis is less than unity. This is done by constructing a measure on the set of all codes for computable functions in such a way that the measure of every effectively accountable subset is bounded by a number β<1. The consistency of these measures with the Savage axioms for rational preference is established. Implications for applied decision theory are outlined.
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Madan, D.B., Owings, J.C. Decision theory with complex uncertainties. Synthese 75, 25–44 (1988). https://doi.org/10.1007/BF00873273
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DOI: https://doi.org/10.1007/BF00873273