The sure thing principle,dilations, and objective probabilities |
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Authors: | Haim Gaifman |
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Affiliation: | Columbia University, New York, NY 10027, United States;ColumbiaUniversity |
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Abstract: | The common theme that unites the four sections is STP, the sure thing principle. But the paper can be divided neatly into two parts. The first, consisting of the first two sections, contains an analysis of STP as it figures in Savage?s system and proposals of changes to that system. Also possibilities for partially ordered acts are considered. The second, consisting of the last two sections, is about imprecise probabilities, dilations and objective probabilities. Variants of STP are considered but this part is self-contained and can be read separately. The main claim there is that dilations, which can have extremely counterintuitive consequences, can be eliminated by a more careful analysis of the phenomenon. It outlines a proposal of how to do it. Here the concept of objective probabilities plays a crucial role. |
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Keywords: | Sure Thing Principle Axiom P2 Imprecise probabilities Dilation Partial ordering Objective probabilities Savage?s system Partial acts |
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