Implications of the Dutch Book: Following Ramsey's axioms
Frontiers of Philosophy in China 6 (2):334-344 (2011)
| Abstract | The Dutch Book Argument shows that an agent will lose surely in a gamble (a Dutch Book is made) if his degrees of belief do not satisfy the laws of the probability. Yet a question arises here: What does the Dutch Book imply? This paper firstly argues that there exists a utility function following Ramsey’s axioms. And then, it explicates the properties of the utility function and degree of belief respectively. The properties show that coherence in partial beliefs for Subjective Bayesianism means that the degree of belief, representing a belief ordering, satisfies the laws of probability, and that coherence in preferences means that the preferences are represented by expected utilities. A coherent belief ordering and a utility scale induce a coherent preference ordering; a coherent preference ordering induces a coherent belief ordering which can be uniquely represented by a degree-of-belief function. The preferences (values) and beliefs are both incoherent or disordered if a Dutch Book is made. | |||||||||
| Keywords | No keywords specified (fix it) | |||||||||
| Categories | ||||||||||
| Options |
|
|||||||||
Download options| PhilPapers Archive |
Upload a copy of this paper Check publisher's policy on self-archival Papers currently archived: 5,705 |
| External links |
 |
| Through your library | Configure |
Similar books and articlesColin Howson (1992). Dutch Book Arguments and Consistency. PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1992:161 - 168.
Teddy Seidenfeld & Mark J. Schervish (1983). A Conflict Between Finite Additivity and Avoiding Dutch Book. Philosophy of Science 50 (3):398-412.
Brad Armendt (1980). Is There a Dutch Book Argument for Probability Kinematics? Philosophy of Science 47 (4):583-588.
C. Waidacher (1997). Hidden Assumptions in the Dutch Book Argument. Theory and Decision 43 (3):293-312.
Darrell P. Rowbottom (2007). The Insufficiency of the Dutch Book Argument. Studia Logica 87 (1):65 - 71.
James M. Joyce (1998). A Nonpragmatic Vindication of Probabilism. Philosophy of Science 65 (4):575-603.
David Christensen (1996). Dutch-Book Arguments Depragmatized: Epistemic Consistency for Partial Believers. Journal of Philosophy 93 (9):450-479.
Brian Weatherson (1999). Begging the Question and Bayesians. Studies in History and Philosophy of Science 30:687-697.
Peter Milne (1990). Scotching the Dutch Book Argument. Erkenntnis 32 (1):105--26.
T. Seidenfeld, M. J. Schervish & J. B. Kadane (1990). When Fair Betting Odds Are Not Degrees of Belief. PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1990:517 - 524.
Soshichi Uchii (1973). Higher Order Probabilities and Coherence. Philosophy of Science 40 (3):373-381.
Daniel Silber (1999). Dutch Books and Agent Rationality. Theory and Decision 47 (3):247-266.
William Harper, Sheldon J. Chow & Gemma Murray (2012). Bayesian Chance. Synthese 186 (2):447-474.
Analytics
Monthly downloads |
Added to index2011-05-22Total downloads13 ( #88,007 of 549,546 )Recent downloads (6 months)2 ( #37,418 of 549,546 )How can I increase my downloads? |
My notes
Discussion
