Rationality of belief or: why savage's axioms are neither necessary nor sufficient for rationality [Book Review]
Graduate studies at Western
Synthese 187 (1):11-31 (2012)
|Abstract||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)|
|Through your library||Configure|
Similar books and articles
Thomas Kelly (2007). Evidence and Normativity: Reply to Leite. Philosophy and Phenomenological Research 75 (2):465–474.
Lisa Bortolotti (2005). Delusions and the Background of Rationality. Mind and Language 20 (2):189-208.
Iskra Fileva & Jon Tresan (2013). Wisdom Beyond Rationality: A Reply to Ryan. Acta Analytica 28 (2):229-235.
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.
Franz Dietrich & Christian List (2013). Reasons for (Prior) Belief in Bayesian Epistemology. Synthese 190 (5):781-786.
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.
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.
Jeffrey Foss (1976). A Rule of Minimal Rationality: The Logical Link Between Beliefs and Values. Inquiry 19 (1-4):341 – 353.
Maurice Lagueux (2004). The Forgotten Role of the Rationality Principle in Economics. Journal of Economic Methodology 11 (1):31-51.
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.
Added to index2011-10-19
Total downloads11 ( #107,425 of 739,318 )
Recent downloads (6 months)1 ( #61,243 of 739,318 )
How can I increase my downloads?