How do we ascribe subjective probability? In decision theory, this question is often addressed by representation theorems, going back to Ramsey (1926), which tell us how to define or measure subjective probability by observable preferences. However, standard representation theorems make strong rationality assumptions, in particular expected utility maximization. How do we ascribe subjective probability to agents which do not satisfy these strong rationality assumptions? I present a representation theorem with weak rationality assumptions which can be used to define or measure (...) subjective probability for partly irrational agents. (shrink)

In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...) principle, I then argue that for any agent, S, faced with any decision under risk, S should rank his or her decision options (in terms of how choiceworthy they are) according to their comparative expected comparative utility (CECU) and should choose whichever option carries the greatest CECU. For any option, a, a’s CECU is the difference between its ECU and that of whichever alternative to a carries the greatest ECU, where a’s ECU is a probability‐weighted sum of a’s CUs across the various possible states of the world. I lastly demonstrate that in some ordinary decisions under risk, ECU theory delivers different verdicts from those of standard decision theory. (shrink)

This paper aims to address the question of how one ought to choose when one is uncertain about what outcomes will result from one’s choices, but when one can nevertheless assign probabilities to the different possible outcomes. These choices are commonly referred to as choices (or decisions) under risk. I assume in this paper that one ought to make instrumentally rational choices—more precisely, one ought to adopt suitable means to one’s morally permissible ends. Expected utility (EU) theory is generally accepted (...) as a normative theory of rational choice under risk, or, more specifically, as a theory of instrumental rationality. According to EU theory, when faced with a decision under risk, one ought to rank one’s options (from least to most choiceworthy) according to their EU and one ought to choose whichever option carries the greatest EU (or one of them in the event that several alternatives are tied). The EU of an option is a probability-weighted sum of each of its possible utilities. In this paper, I argue that EU theory is not the correct theory of instrumental rationality. In its place, I argue for a new theory of instrumental rationality, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this principle, I then argue, roughly speaking, that for any agent, S, faced with any decision under risk, S ought to rank her options (in terms of how choiceworthy they are) according to their ECU and S ought to choose whichever option carries the greatest ECU (or one of them in the event that several alternatives are tied). For any option, a, a’s ECU is a probability‐weighted sum of a’s comparative utilities across the various possible states of the world. In this paper, I show that in some commonplace decisions under risk, ECU theory delivers different verdicts from those of EU theory. (shrink)

In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...) principle, I then argue that for any agent, S, faced with any decision under risk, S should rank his or her decision options (in terms of how choiceworthy they are) according to their comparative expected comparative utility (CECU) and should choose whichever option carries the greatest CECU. For any option, a, a's CECU is the difference between its ECU and that of whichever alternative to a carries the greatest ECU, where a's ECU is a probability-weighted sum of a's CUs across the various possible states of the world. I lastly demonstrate that in some ordinary decisions under risk, ECU theory delivers different verdicts from those of standard decision theory. (shrink)

This essay aims to provide a modal logic for rational intuition. Similarly to treatments of the property of knowledge in epistemic logic, I argue that rational intuition can be codified by a modal operator governed by the modal $\mu$-calculus. Via correspondence results between fixed point modal propositional logic and the bisimulation-invariant fragment of monadic second-order logic, a precise translation can then be provided between the notion of 'intuition-of', i.e., the cognitive phenomenal properties of thoughts, and the modal operators regimenting the (...) notion of 'intuition-that'. I argue that intuition-that can further be shown to entrain conceptual elucidation, by way of figuring as a dynamic-interpretational modality which induces the reinterpretation of both domains of quantification and the intensions and hyperintensions of mathematical concepts that are formalizable in monadic first- and second-order formal languages. Hyperintensionality is countenanced via a topic-sensitive epistemic two-dimensional truthmaker semantics. (shrink)

This book concerns the foundations of epistemic modality and hyperintensionality and their applications to the philosophy of mathematics. I examine the nature of epistemic modality, when the modal operator is interpreted as concerning both apriority and conceivability, as well as states of knowledge and belief. The book demonstrates how epistemic modality and hyperintensionality relate to the computational theory of mind; metaphysical modality and hyperintensionality; the types of mathematical modality and hyperintensionality; to the epistemic status of large cardinal axioms, undecidable propositions, (...) and abstraction principles in the philosophy of mathematics; to the modal and hyperintensional profiles of the logic of rational intuition; and to the types of intention, when the latter is interpreted as a hyperintensional mental state. Chapter 2 argues for a novel type of expressivism based on the duality between the categories of coalgebras and algebras, and argues that the duality permits of the reconciliation between modal cognitivism and modal expressivism. I also develop a novel topic-sensitive truthmaker semantics for dynamic epistemic logic, and develop a novel dynamic epistemic two-dimensional hyperintensional semantics. Chapter 3 provides an abstraction principle for epistemic (hyper-)intensions. Chapter 4 advances a topic-sensitive two-dimensional truthmaker semantics, and provides three novel interpretations of the framework along with the epistemic and metasemantic. Chapter 5 applies the fixed points of the modal μ-calculus in order to account for the iteration of epistemic states in a single agent, by contrast to availing of modal axiom 4 (i.e. the KK principle). The fixed point operators in the modal μ-calculus are rendered hyperintensional, which yields the first hyperintensional construal of the modal μ-calculus in the literature and the first application of the calculus to the iteration of epistemic states in a single agent instead of the common knowledge of a group of agents. Chapter 6 advances a solution to the Julius Caesar problem based on Fine's `criterial' identity conditions which incorporate conditions on essentiality and grounding. Chapter 7 provides a ground-theoretic regimentation of the proposals in the metaphysics of consciousness and examines its bearing on the two-dimensional conceivability argument against physicalism. The topic-sensitive epistemic two-dimensional truthmaker semantics developed in chapters 2 and 4 are availed of in order for epistemic states to be a guide to metaphysical states in the hyperintensional setting. -/- Chapters 8-12 provide cases demonstrating how the two-dimensional hyperintensions of hyperintensional, i.e. topic-sensitive epistemic two-dimensional truthmaker, semantics, solve the access problem in the epistemology of mathematics. Chapter 8 examines the interaction between my hyperintensional semantics and the axioms of epistemic set theory, large cardinal axioms, the Epistemic Church-Turing Thesis, the modal axioms governing the modal profile of Ω-logic, Orey sentences such as the Generalized Continuum Hypothesis, and absolute decidability. These results yield inter alia the first hyperintensional Epistemic Church-Turing Thesis and hyperintensional epistemic set theories in the literature. Chapter 9 examines the modal and hyperintensional commitments of abstractionism, in particular necessitism, and epistemic hyperintensionality, epistemic utility theory, and the epistemology of abstraction. I countenance a hyperintensional semantics for novel epistemic abstractionist modalities. I suggest, too, that observational type theory can be applied to first-order abstraction principles in order to make first-order abstraction principles recursively enumerable, i.e. Turing machine computable, and that the truth of the first-order abstraction principle for hyperintensions is grounded in its being possibly recursively enumerable and the machine being physically implementable. Chapter 10 examines the philosophical significance of hyperintensional Ω-logic in set theory and discusses the hyperintensionality of metamathematics. Chapter 11 provides a modal logic for rational intuition and provides a hyperintensional semantics. Chapter 12 avails of modal coalgebras to interpret the defining properties of indefinite extensibility, and avails of hyperintensional epistemic two-dimensional semantics in order to account for the interaction between the interpretational and objective modalities and truthmakers thereof. This yields the first hyperintensional category theory in the literature. I invent a new mathematical trick in which first order structures are treated as categories, and Vopenka's principle can be satisfied because of the elementary embeddings between the categories and generate Vopenka cardinals while bypassing the category of Set in category theory. Chapter 13 examines modal responses to the alethic paradoxes. Chapter 14 examines, finally, the modal and hyperintensional semantics for the different types of intention and the relation of the latter to evidential decision theory. (shrink)

This paper argues that several leading theories of subjunctive conditionals are incompatible with ordinary intuitions about what credences we ought to have in subjunctive conditionals. In short, our theory of subjunctives should intuitively display semantic humility, i.e. our semantic theory should deliver the truth conditions of sentences without pronouncing on whether those conditions actually obtain. In addition to describing intuitions about subjunctive conditionals, I argue that we can derive these ordinary intuitions from justified premises, and I answer a possible worry (...) for my derivation by refuting a subjunctive triviality result modeled on (Lewis 1976). I conclude that the debate over the correct theory of subjunctive conditionals requires settling meta-philosophical questions about the relative value of various virtues of first-order theories of subjunctive conditionals. (shrink)

Credences are similar to levels of confidence, represented as a value on the [0,1] interval. This chapter sheds light on questions about credence, including its relationship to full belief, with an eye toward the empirical relevance of credence. First, I’ll provide a brief epistemological history of credence and lay out some of the main theories of the nature of credence. Then, I’ll provide an overview of the main views on how credences relate to full beliefs. Finally, I’ll turn to the (...) empirical, and suggest some ways that cognitive science does and could answer questions about credence, such as what credences one has, how credences relate to beliefs, and the extent to which we can control our credences. (shrink)

This book takes purism about knowledge as the default position and defends it from the challenges of pragmatic encroachment. The book is divided into two parts, a negative and a positive one. The negative part critically examines existing purist strategies in response to pragmatic encroachment. The positive part provides a new theory of how practical factors can systematically influence our confidence and explores some implications of such influence.

Ramsey (1926) sketches a proposal for measuring the subjective probabilities of an agent by their observable preferences, assuming that the agent is an expected utility maximizer. I show how to extend the spirit of Ramsey's method to a strictly wider class of agents: risk-weighted expected utility maximizers (Buchak 2013). In particular, I show how we can measure the risk attitudes of an agent by their observable preferences, assuming that the agent is a risk-weighted expected utility maximizer. Further, we can leverage (...) this method to measure the subjective probabilities of a risk-weighted expected utility maximizer. (shrink)

Degrees of belief are familiar to all of us. Our confidence in the truth of some propositions is higher than our confidence in the truth of other propositions. We are pretty confident that our computers will boot when we push their power button, but we are much more confident that the sun will rise tomorrow. Degrees of belief formally represent the strength with which we believe the truth of various propositions. The higher an agent’s degree of belief for a particular (...) proposition, the higher her confidence in the truth of that proposition. For instance, Sophia’s degree of belief that it will be sunny in Vienna tomorrow might be .52, whereas her degree of belief that the train will leave on time might be .23. The precise meaning of these statements depends, of course, on the underlying theory of degrees of belief. These theories offer a formal tool to measure degrees of belief, to investigate the relations between various degrees of belief in different propositions, and to normatively evaluate degrees of belief. (shrink)

Four important arguments for probabilism—the Dutch Book, representation theorem, calibration, and gradational accuracy arguments—have a strikingly similar structure. Each begins with a mathematical theorem, a conditional with an existentially quantified consequent, of the general form: if your credences are not probabilities, then there is a way in which your rationality is impugned. Each argument concludes that rationality requires your credences to be probabilities. I contend that each argument is invalid as formulated. In each case there is a mirror-image theorem and (...) a corresponding argument of exactly equal strength that concludes that rationality requires your credences not to be probabilities. Some further consideration is needed to break this symmetry in favour of probabilism. (shrink)

Various theories try to give accounts of how measures of this confidence do or ought to behave, both as far as the internal mental consistency of the agent as ...

Bayesianism provides a rich theoretical framework, which lends itself rather naturally to the explication of various “contrastive” and “non-contrastive” concepts. In this (brief) discussion, I will focus on issues involving “contrastivism”, as they arise in some of the recent philosophy of science, epistemology, and cognitive science literature surrounding Bayesian confirmation theory.

Imprecise probabilities are often modelled with representors, or sets of probability functions. In the recent literature, two ways of interpreting representors have emerged as especially prominent: vagueness interpretations, according to which each probability function in the set represents how the agent's beliefs would be if any vagueness were precisified away; and comparativist interpretations, according to which the set represents those comparative confidence relations that are common to all probability functions therein. I argue that these interpretations have some important limitations. I (...) also propose an alternative—the functional interpretation—according to which representors are best interpreted by reference to the roles they play in the theories that make use of them. (shrink)

My dissertation is about Bayesian rationality for non-ideal agents. I show how to derive subjective probabilities from preferences using much weaker rationality assumptions than other standard representation theorems. I argue that non-ideal agents might be uncertain about how they will update on new information and consider two consequences of this uncertainty: such agents should sometimes reject free information and make choices which, taken together, yield sure loss. The upshot is that Bayesian rationality for non-ideal agents makes very different normative demands (...) than ideal Bayesian rationality. (shrink)

This paper aims to provide hyperintensional foundations for mathematical platonism. I examine Hale and Wright's (2009) objections to the merits and need, in the defense of mathematical platonism and its epistemology, of the thesis of Necessitism. In response to Hale and Wright's objections to the role of epistemic and metaphysical modalities in providing justification for both the truth of abstraction principles and the success of mathematical predicate reference, I examine the Necessitist commitments of the abundant conception of properties endorsed by (...) Hale and Wright and examined in Hale (2013), and demonstrate how a two-dimensional approach to the epistemology of mathematics is consistent with Hale and Wright's notion of there being non-evidential epistemic entitlement rationally to trust that abstraction principles are true. A choice point that I flag is that between availing of intensional or hyperintensional semantics. The hyperintensional semantic approach that I advance is a topic-sensitive epistemic two-dimensional truthmaker semantics. I countenance a hyperintensional semantics for novel epistemic abstractionist modalities. I suggest that observational type theory can be applied to first-order abstraction principles in order to make abstraction principles recursively enumerable. Epistemic and metaphysical states and possibilities may thus be shown to play a constitutive role in vindicating the reality of mathematical objects and truth, and in providing a conceivability-based route to the truth of abstraction principles as well as other axioms and propositions in mathematics. (shrink)

It’s intuitive to think that an intentional action requires that the agent knows that she’s doing so. In light of some apparent counterexamples, Setiya suggests that this intuitive insight is better captured in terms of credence: performing an intentional action requires the agent to have a higher credence that she’s doing so than she would have otherwise. I argue that there is no such thing as an agent’s credence for what she’s doing. After distinguishing this thesis from an idea some (...) defend under the slogan “deliberation crowds out prediction”, I explore the thesis’s broader epistemological implications for the belief-credence relation. (shrink)

The article is a plea for ethicists to regard probability as one of their most important concerns. It outlines a series of topics of central importance in ethical theory in which probability is implicated, often in a surprisingly deep way, and lists a number of open problems. Topics covered include: interpretations of probability in ethical contexts; the evaluative and normative significance of risk or uncertainty; uses and abuses of expected utility theory; veils of ignorance; Harsanyi’s aggregation theorem; population size problems; (...) equality; fairness; giving priority to the worse off; continuity; incommensurability; nonexpected utility theory; evaluative measurement; aggregation; causal and evidential decision theory; act consequentialism; rule consequentialism; and deontology. (shrink)

QBism is an agent-centered interpretation of quantum theory. It rejects the notion that quantum theory provides a God’s eye description of reality and claims instead that it imposes constraints on agents’ subjective degrees of belief. QBism’s emphasis on subjective belief has led critics to dismiss it as antirealism or instrumentalism, or even, idealism or solipsism. The aim of this paper is to consider the relation of QBism to scientific realism. I argue that while QBism is an unhappy fit with a (...) standard way of thinking about scientific realism, an alternative conception I call “perspectival normative realism” may allow for a reconciliation. (shrink)

This is a three-part exchange on the relationship between belief and credence. It begins with an opening essay by Roger Clarke that argues for the claim that the notion of credence generalizes the notion of belief. Julia Staffel argues in her reply that we need to distinguish between mental states and models representing them, and that this helps us explain what it could mean that belief is a special case of credence. Roger Clarke's final essay reflects on the compatibility of (...) the previously discussed views with dualist and monist interpretations of our mental states and our ways of modeling them. (shrink)

This paper endeavors to establish foundations for the interaction between hyperintensional semantics and two-dimensional indexing. I examine the significance of the semantics, by developing three, novel interpretations of the framework. The first interpretation provides a characterization of the distinction between fundamental and derivative truths. The second interpretation demonstrates how the elements of decision theory are definable within the semantics, and provides a novel account of the interaction between probability measures and hyperintensional grounds. The third interpretation concerns the contents of the (...) types of intentional action, and the semantics is shown to resolve a puzzle concerning the role of intention in action. Topic-sensitive two-dimensional truthmaker semantics can be interpreted epistemically and metasemantically. (shrink)

This volume bridges contemporary philosophical conceptions of risk and responsibility and offers an extensive examination of the topic. It shows that risk and responsibility combine in ways that give rise to new philosophical questions and problems. Philosophical interest in the relationship between risk and responsibility continues to rise, due in no small part due to environmental crises, emerging technologies, legal developments, and new medical advances. Despite such interest, scholars are just now working out how to conceive of the links between (...) risk and responsibility, the implications that risks may have to conceptions of responsibility (and vice versa), as well as how such theorizing might play out in applied cases. With contributions from leading scholars, this volume brings together new work examining the interplay between risk and responsibility, exploring its varied philosophical aspects and applications to contemporary issues in law, bioethics, technology, and environmental ethics. Risk and Responsibility in Context will be of interest to philosophers working in ethics, bioethics, philosophy of law, and philosophy of technology, as well as scholars and practitioners in law, health and science management, public policy, and environmental studies. (shrink)

The essays in this volume concern the points of intersection between analytic philosophy and the philosophy of the exact sciences. More precisely, it concern connections between knowledge in mathematics and the exact sciences, on the one hand, and the conceptual foundations of knowledge in general. Its guiding idea is that, in contemporary philosophy of science, there are profound problems of theoretical interpretation-- problems that transcend both the methodological concerns of general philosophy of science, and the technical concerns of philosophers of (...) particular sciences. A fruitful approach to these problems combines the study of scientific detail with the kind of conceptual analysis that is characteristic of the modern analytic tradition. Such an approach is shared by these contributors: some primarily known as analytic philosophers, some as philosophers of science, but all deeply aware that the problems of analysis and interpretation link these fields together. (shrink)

In Charles Mills’ essay, “White Ignorance,” and his trail-blazing monograph, The Racial Contract, he developed a view of how Whiteness or anti-Black-Indigenous-and-Latinx racism causes individuals to hold false beliefs or lack beliefs about racial injustice in particular and the world in general. I will defend a novel exegetical claim that Mills’ view is part of a more general view regarding how racial injustice can affect a subject’s epistemic standing such as whether they are justified in a belief and whether their (...) degree of confidence in the belief is rational given their evidence. Then, in light of this novel exegetical claim, I show how this interpretation of Mills’ view that racial injustice causes ignorance relates to how epistemically justified philosophers and social scientists are in the views that dominate their respective scholarly literature. (shrink)

Problems of Rationality is the eagerly awaited fourth volume of Donald Davidson 's philosophical writings. From the 1960s until his death in August 2003 Davidson was perhaps the most influential figure in English-language philosophy, and his work has had a profound effect upon the discipline. His unified theory of the interpretation of thought, meaning, and action holds that rationality is a necessary condition for both mind and interpretation. Davidson here develops this theory to illuminate value judgements and how we understand (...) them; to investigate what the conditions are for attributing mental states to an object or creature; and to grapple with the problems presented by thoughts and actions which seem to be irrational. Anyone working on knowledge, mind, and language will find these essays essential reading. (shrink)

In Davidson's philosophy, one finds a wide variety of rich, provocative, and influential arguments concerning the nature of the mind—that mental states emerge only in the context of interpretation, that belief is "in its nature" veridical, that mental events are physical events, and so on. Most, if not all, of Davidson's conclusions about the mind have their source in discussions about the project of "radical interpretation." They rely upon arguments concerning the conditions on the successful interpretation of a speaker by (...) an interpreter who knows nothing initially about the speaker's language or mental states. But what is the relevance of this activity of radical interpretation? Why should the conditions on succeeding at it illuminate anything about the nature of the mind in general? In this paper, I explore these issues. In particular, I will argue that Davidson's confidence in the relevance of radical interpretation for understanding the mind ultimately depends upon a prior and quite substantive view of the mind. Moreover, it is a view of the mind for which Davidson provides little support. Indeed, the little support Davidson does provide appears to depend itself on the very relevance of radical interpretation. (shrink)

Until now, antirealists have offered sketches of a theory of truth, at best. In this paper, we present a probabilist account of antirealist truth in some formal detail, and we assess its ability to deal with the problems that are standardly taken to beset antirealism.

In the quantum-Bayesian approach to quantum foundations, a quantum state is viewed as an expression of an agent’s personalist Bayesian degrees of belief, or probabilities, concerning the results of measurements. These probabilities obey the usual probability rules as required by Dutch-book coherence, but quantum mechanics imposes additional constraints upon them. In this paper, we explore the question of deriving the structure of quantum-state space from a set of assumptions in the spirit of quantum Bayesianism. The starting point is the representation (...) of quantum states induced by a symmetric informationally complete measurement or SIC. In this representation, the Born rule takes the form of a particularly simple modification of the law of total probability. We show how to derive key features of quantum-state space from (i) the requirement that the Born rule arises as a simple modification of the law of total probability and (ii) a limited number of additional assumptions of a strong Bayesian flavor. (shrink)

I argue that in order to account for normative uncertainty, an expressivist theory of normative language and thought must accomplish two things: Firstly, it needs to find room in its framework for a gradable conative attitude, degrees of which can be interpreted as representing normative uncertainty. Secondly, it needs to defend appropriate rationality constraints pertaining to those graded attitudes. The first task – finding an appropriate graded attitude that can represent uncertainty – is not particularly problematic. I tackle the second (...) task by exploring whether we can devise expressivist versions of the standard arguments used to support rationality constraints on degrees of uncertainty, Dutch book arguments and accuracy-dominance arguments. I show that we can do so, but that the resulting arguments don’t support the same rationality constraints as the original versions of the arguments. (shrink)

The field of of imprecise probability has matured, in no small part because of Teddy Seidenfeld’s decades of original scholarship and essential contributions to building and sustaining the ISIPTA community. Although the basic idea behind imprecise probability is (at least) 150 years old, a mature mathematical theory has only taken full form in the last 30 years. Interest in imprecise probability during this period has also grown, but many of the ideas that the mature theory serves can be difficult to (...) apprehend to those new to the subject. Although these fundamental ideas are common knowledge in the ISIPTA community, they are expressed, when they are expressed at all, obliquely, over the course of years with students and colleagues. -/- A single essay cannot convey the store of common knowledge from any research community, let alone the ISIPTA community. But, this essay nevertheless is an attempt to guide those familiar with the basic Bayesian framework to appreciate some of the elegant and powerful ideas that underpin the contemporary theory of lower previsions, which is the theory that most people associate with the term ‘imprecise probabilities’. (shrink)

Ruth Chang and Joseph Raz have both drawn far-reaching consequences for agency from the phenomenon of incommensurability. After criticizing their arguments, I outline an alternative view: if incommensurability is vagueness, then there are no substantial implications for agency, except perhaps a limited form of naturalistic voluntarism if our reasons are provided by desires.

This paper concerns an epistemological objection against mathematical platonism, due to Hartry Field.The argument poses an explanatory challenge – the challenge to explain the reliability of our mathematical beliefs – which the platonist, it’s argued, cannot meet. Is the objection compelling? Philosophers disagree, but they also disagree on (and are sometimes very unclear about) how the objection should be understood. Here I distinguish some options, and highlight some gaps that need to be filled in on the potentially most compelling version (...) of the argument. (shrink)

In their recently published book Nudge (2008) Richard H. Thaler and Cass R. Sunstein (T&S) defend a position labelled as ‘libertarian paternalism’. Their thinking appeals to both the right and the left of the political spectrum, as evidenced by the bedfellows they keep on either side of the Atlantic. In the US, they have advised Barack Obama, while, in the UK, they were welcomed with open arms by the David Cameron's camp (Chakrabortty 2008). I will consider the following questions. What (...) is Nudge? How is it different from social advertisement? Does Nudge induce genuine preference change? Does Nudge build moral character? Is there a moral difference between the use of Nudge as opposed to subliminal images to reach policy objectives? And what are the moral constraints on Nudge? (shrink)

It is often loosely said that Ramsey The foundations of mathematics and other logical essays, Routledge and Kegan Paul, Abingdon, pp 156–198, 1931) and de Finetti Studies in subjective probability, Kreiger Publishing, Huntington, 1937) proved that if your credences are inconsistent, then you will be willing to accept a Dutch Book, a wager portfolio that is sure to result in a loss. Of course, their theorems are true, but the claim about acceptance of Dutch Books assumes a particular method of (...) calculating expected utilities given the inconsistent credences. I will argue that there are better ways of calculating expected utilities given a potentially inconsistent credence assignment, and that for a large class of credences—a class that includes many inconsistent examples—these ways are immune to Dutch Books and single-shot domination failures. The crucial move is to replace Finite Additivity with Monotonicity, then \\le P\)) and then calculate expected utilities for positive U via the formula \\, dy\). This shows that Dutch Book arguments for probabilism, the thesis that one’s credences should be consistent, do not establish their conclusion. Finally, I will consider a modified argument based on multi-step domination failure that does better, but nonetheless is not as compelling as the Dutch Book arguments appeared to be. (shrink)

The epistemic probability of A given B is the degree to which B evidentially supports A, or makes A plausible. This paper is a first step in answering the question of what determines the values of epistemic probabilities. I break this question into two parts: the structural question and the substantive question. Just as an object’s weight is determined by its mass and gravitational acceleration, some probabilities are determined by other, more basic ones. The structural question asks what probabilities are (...) not determined in this way—these are the basic probabilities which determine values for all other probabilities. The substantive question asks how the values of these basic probabilities are determined. I defend an answer to the structural question on which basic probabilities are the probabilities of atomic propositions conditional on potential direct explanations. I defend this against the view, implicit in orthodox mathematical treatments of probability, that basic probabilities are the unconditional probabilities of complete worlds. I then apply my answer to the structural question to clear up common confusions in expositions of Bayesianism and shed light on the “problem of the priors.”. (shrink)

While there are several arguments on either side, it is far from clear as to whether or not countable additivity is an acceptable axiom of subjective probability. I focus here on de Finetti's central argument against countable additivity and provide a new Dutch book proof of the principle, To argue that if we accept the Dutch book foundations of subjective probability, countable additivity is an unavoidable constraint.

Uncertainty plays an important role in The General Theory, particularly in the theory of interest rates. Keynes did not provide a theory of uncertainty, but he did make some enlightening remarks about the direction he thought such a theory should take. I argue that some modern innovations in the theory of probability allow us to build a theory which captures these Keynesian insights. If this is the right theory, however, uncertainty cannot carry its weight in Keynes’s arguments. This does not (...) mean that the conclusions of these arguments are necessarily mistaken; in their best formulation they may succeed with merely an appeal to risk. (shrink)

In his Bayesian Nets and Causality, Jon Williamson presents an ‘Objective Bayesian’ interpretation of probability, which he endeavours to distance from the logical interpretation yet associate with the subjective interpretation. In doing so, he suggests that the logical interpretation suffers from severe epistemological problems that do not affect his alternative. In this paper, I present a challenge to his analysis. First, I closely examine the relationship between the logical and ‘Objective Bayesian’ views, and show how, and why, they are highly (...) similar. Second, I argue that the logical interpretation is not manifestly inferior, at least for the reasons that Williamson offers. I suggest that the key difference between the logical and ‘Objective Bayesian’ views is in the domain of the philosophy of logic; and that the genuine disagreement appears to be over Platonism versus nominalism. (shrink)

Kolmogorov''s axiomatization of probability includes the familiarratio formula for conditional probability: 0).$$ " align="middle" border="0">.