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This paper analyzes concepts of independence and assumptions of convexity in the theory of sets of probability distributions. The starting point is Kyburg and Pittarelli’s discussion of “convex Bayesianism” (in particular their proposals concerning E-admissibility, independence, and convexity). The paper offers an organized review of the literature on independence for sets of probability distributions; new results on graphoid properties and on the justification of “strong independence” (using exchangeability) are presented. Finally, the connection between Kyburg and Pittarelli’s results and recent developments (...) on the axiomatization of non-binary preferences, and its impact on “complete” independence, are described. (shrink) | |
“Dutch Book” arguments and references to gambling theorems are typical in the debate between Bayesians and scientists committed to “classical” statistical methods. These arguments have rarely convinced non-Bayesian scientists to abandon certain conventional practices, partially because many scientists feel that gambling theorems have little relevance to their research activities. In other words, scientists “don’t bet.” This article examines one attempt, by Schervish, Seidenfeld, and Kadane, to progress beyond such apparent stalemates by connecting “Dutch Book”–type mathematical results with principles actually endorsed (...) by practicing experimentalists. (shrink) | |
We study the representation of sets of desirable gambles by sets of probability mass functions. Sets of desirable gambles are a very general uncertainty model, that may be non-Archimedean, and therefore not representable by a set of probability mass functions. Recently, Cozman (2018) has shown that imposing the additional requirement of even convexity on sets of desirable gambles guarantees that they are representable by a set of probability mass functions. Already more that 20 years earlier, Seidenfeld et al. (1995) gave (...) an axiomatisation of binary preferences—on horse lotteries, rather than on gambles—that also leads to a unique representation in terms of sets of probability mass functions. To reach this goal, they use two devices, which we will call ‘SSK–Archimedeanity’ and ‘SSK–extension’. In this paper, we will make the arguments of Seidenfeld et al. (1995) explicit in the language of gambles, and show how their ideas imply even convexity and allow for conservative reasoning with evenly convex sets of desirable gambles, by deriving an equivalence between the SSK–Archimedean natural extension, the SSK–extension, and the evenly convex natural extension. (shrink) | |
We study whether it is possible to generalise Seidenfeld et al.’s representation result for coherent choice functions in terms of sets of probability/utility pairs when we let go of Archimedeanity. We show that the convexity property is necessary but not sufficient for a choice function to be an infimum of a class of lexicographic ones. For the special case of two-dimensional option spaces, we determine the necessary and sufficient conditions by weakening the Archimedean axiom. | |
Consider a subjective expected utility preference relation. It is usually held that the representations which this relation admits differ only in one respect, namely, the possible scales for the measurement of utility. In this paper, I discuss the fact that there are, metaphorically speaking, two additional dimensions along which infinitely many more admissible representations can be found. The first additional dimension is that of state-dependence. The second—and, in this context, much lesser-known—additional dimension is that of act-dependence. The simplest implication of (...) their usually neglected existence is that the standard axiomatizations of subjective expected utility fail to provide the measurement of subjective probability with satisfactory behavioral foundations. (shrink) | |
We investigate epistemic independence for choice functions in a multivariate setting. This work is a continuation of earlier work of one of the authors [23], and our results build on the characterization of choice functions in terms of sets of binary preferences recently established by De Bock and De Cooman [7]. We obtain the independent natural extension in this framework. Given the generality of choice functions, our expression for the independent natural extension is the most general one we are aware (...) of, and we show how it implies the independent natural extension for sets of desirable gambles, and therefore also for less informative imprecise-probabilistic models. Once this is in place, we compare this concept of epistemic independence to another independence concept for choice functions proposed by Seidenfeld [22], which De Bock and De Cooman [1] have called S-independence. We show that neither is more general than the other. (shrink) | |
Suppose we have a group of Bayesian agents, and suppose that theywould like for their group as a whole to be a Bayesian agent as well. Moreover, suppose that thoseagents want the probabilities and utilities attached to this group agent to be aggregated from theindividual probabilities and utilities in reasonable ways. Two ways of aggregating their individual data areavailable to them, viz., ex ante aggregation and ex post aggregation. The former aggregatesexpected utilities directly, whereas the latter aggregates probabilities and utilities (...) separately.A number of recent formal results show that both approaches have problematic implications. This studydiscusses the philosophical issues arising from those results. In this process, I hope to convincethe reader that these results about Bayesian aggregation are highly significant to decision theorists, butalso of immense interest to theorists working in areas such as ethics and political philosophy. (shrink) | |
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