Abstract

The theory of subjective probability and utility recently proposed by professor richard jeffrey has several unique features and appears to be in some ways distinctly more satisfactory than earlier theories. There is, However, One very important class of decision problems which is not discussed by professor jeffrey--Problems concerned with decisions about strategies for using information. The principal task of this paper is to point out some questions which arise in attempting to deal with these decision problems within jeffrey's theory. To do this it will be necessary to examine in some detail jeffrey's discussion of the relation between his theory and those of ramsey and savage