Dutch Books, Additivity, and Utility Theory

Philosophical Topics 21 (1):1-20 (1993)
One guide to an argument's significance is the number and variety of refutations it attracts. By this measure, the Dutch book argument has considerable importance.2 Of course this measure alone is not a sure guide to locating arguments deserving of our attention—if a decisive refutation has really been given, we are better off pursuing other topics. But the presence of many and varied counterarguments at least suggests that either the refutations are controversial, or that their target admits of more than one interpretation, or both. The main point of this paper is to focus on a way of understanding the Dutch Book argument (DBA) that avoids many of the well-known criticisms, and to consider how it fares against an important criticism that still remains: the objection that the DBA presupposes value-independence of bets.
Keywords bayesianism  dutch book argument  subjective probability  representation theorems
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DOI 10.5840/philtopics19932111
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Alan Hajek (2005). Scotching Dutch Books? Philosophical Perspectives 19 (1):139-151.

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