Rationality of belief or: why savage's axioms are neither necessary nor sufficient for rationality [Book Review]

Synthese 187 (1):11-31 (2012)
Economic theory reduces the concept of rationality to internal consistency. As far as beliefs are concerned, rationality is equated with having a prior belief over a “Grand State Space”, describing all possible sources of uncertainties. We argue that this notion is too weak in some senses and too strong in others. It is too weak because it does not distinguish between rational and irrational beliefs. Relatedly, the Bayesian approach, when applied to the Grand State Space, is inherently incapable of describing the formation of prior beliefs. On the other hand, this notion of rationality is too strong because there are many situations in which there is not sufficient information for an individual to generate a Bayesian prior. It follows that the Bayesian approach is neither sufficient not necessary for the rationality of beliefs
Keywords Probability  Rationality  Beliefs  Bayesian paradigm  Savage axioms
Categories (categorize this paper)
DOI 10.1007/s11229-011-0034-2
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 15,831
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

View all 10 references / Add more references

Citations of this work BETA

Add more citations

Similar books and articles
Thomas Kelly (2007). Evidence and Normativity: Reply to Leite. Philosophy and Phenomenological Research 75 (2):465–474.
Sydney Shoemaker (2008). Self-Intimation. Croatian Journal of Philosophy 8 (3):315-327.
Isabella Muzio (2001). Emotions and Rationality. Croatian Journal of Philosophy 1 (2):135-145.
Lisa Bortolotti (2005). Intentionality Without Rationality. Proceedings of the Aristotelian Society 105 (3):385-392.
Ralph Wedgwood (1999). The a Priori Rules of Rationality. Philosophy and Phenomenological Research 59 (1):113-131.
Ralph Wedgwood (2011). Primitively Rational Belief-Forming Processes. In Andrew Reisner & Asbjørn Steglich-Petersen (eds.), Reasons for Belief. Cambridge University Press 180--200.
Herman C. D. G. De Regt (2006). To Believe in Belief Popper and Van Fraassen on Scientific Realism. Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 37 (1):21 - 39.
Giacomo Bonanno (2008). A Syntactic Approach to Rationality in Games with Ordinal Payoffs. In Giacomo Bonanno, Wiebe van der Hoek & Michael Wooldridge (eds.), Logic and the Foundations of Game and Decision Theory. Amsterdam University Press

Monthly downloads

Added to index


Total downloads

23 ( #126,204 of 1,724,771 )

Recent downloads (6 months)

3 ( #210,951 of 1,724,771 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.