Abstract

What is the relation between ‘full’ or ‘outright’ belief and the various levels of confidence that agents can have in the propositions that concern them? This paper argues for a new answer to this question. Decision theory implies that in making decisions, rational agents must treat certain propositions as though they were completely certain; but on most forms of decision theory, these propositions are not ones for which any finite agent could have maximal justification – the agent will clearly have less justification for these propositions than for elementary logical truths. Thus, every adequate model of a finite rational agent's belief‐system must involve two set of credences – theoretical credences and practical credences . A full or outright belief in p can be defined as the state of being stably disposed to assign a practical credence of 1 to p, for all normal practical purposes. This definition allows for a kind of reconciliation between the pragmatist and intellectualist approaches in epistemology.