Cost-Benefit versus Expected Utility Acceptance Rules
PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1970 (1):375 - 402 (1970)
| Abstract | A rule for the acceptance of scientific hypotheses called 'the principle of cost-benefit dominance' is shown to be more effective and efficient than the well-known principle of the maximization of expected (epistemic) utility. Harvey's defense of his theory of the circulation of blood in animals is examined as a historical paradigm case of a successful defense of a scientific hypothesis and as an implicit application of the cost-benefit dominance rule advocated here. Finally, various concepts of 'dominance' are considered by means of which the effectiveness of our rule may be increased. | |||||||||
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