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Dutch books, coherence, and logical consistency. (English) Zbl 1356.03020

Summary: In this paper I present a new way of understanding Dutch Book Arguments: the idea is that an agent is shown to be incoherent iff (s)he would accept as fair a set of bets that would result in a loss under any interpretation of the claims involved. This draws on a standard definition of logical inconsistency. On this new understanding, the Dutch Book Arguments for the probability axioms go through, but the Dutch Book Argument for Reflection fails. The question of whether we have a Dutch Book Argument for Conditionalization is left open.

MSC:

03A05 Philosophical and critical aspects of logic and foundations
60A05 Axioms; other general questions in probability
03B48 Probability and inductive logic
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References:

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