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date: 19 May 2024

Dutch book. 

Source:
The Oxford Companion to Philosophy
Author(s):
Jack MacintoshJack Macintosh

A Dutch book has been made against you if you accept odds and make bets in such a way that you lose regardless of the outcome. For example, suppose you bet $4 at 5–2 that the Canadiens will win the Stanley Cup, and $4 at 5–2 that the Nordiques will win. Hedging, you then bet $7 at even odds that neither will win. Whoever wins, you lose: Dutch book!... ...

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