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conditional probability
Another name for posterior probability: the probability assigned to an event in accordance with Bayes' theorem in the light of empirical evidence as to its observed relative frequency. See also ...
Dutch book Reference library
Jack Macintosh
The Oxford Companion to Philosophy (2 ed.)
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 ...
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incoherent
In probability theory a set of probability assignments is incoherent if it lays their possessor open to a Dutch book; equivalently, it is incoherent if it disobeys the classical axioms of probability ...
money pump
A pattern of intransitive or cyclic preferences causing a decision maker to be willing to pay repeated amounts of money to have these preferences satisfied without gaining any benefit. The simplest ...
personalism
The philosophy of probability pioneered by Ramsey and de Finetti, and furthered by the American statistician L. J. Savage in his Foundations of Statistics (1954). Personalism rejects the view that ...
representation theorem
The proof given by de Finetti that from the requirement that someone's degrees of confidence in propositions be coherent, in the sense of avoiding the possibility of a Dutch book, it can be derived ...
