Subjective Distributions

Theory and Decision 56 (4):345-357 (2004)
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Abstract

A decision maker has to choose one of several random variables whose distributions are not known. As a Bayesian, she behaves as if she knew the distributions. In this paper we suggest an axiomatic derivation of these (subjective) distributions, which is more economical than the derivations by de Finetti or Savage. Whereas the latter derive the whole joint distribution of all the available random variables, our approach derives only the marginal distributions. Correspondingly, the preference questionnaire needed in our case is less smaller

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References found in this work

The Foundations of Statistics.Leonard J. Savage - 1954 - Wiley Publications in Statistics.
Truth and probability.Frank Ramsey - 2010 - In Antony Eagle (ed.), Philosophy of Probability: Contemporary Readings. New York: Routledge. pp. 52-94.
The Foundations of Statistics.Leonard J. Savage - 1956 - Philosophy of Science 23 (2):166-166.
La Prévision: Ses Lois Logiques, Ses Sources Subjectives.Bruno de Finetti - 1937 - Annales de l'Institut Henri Poincaré 7 (1):1-68.

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