Dutch book theorems
In decision theory, economics, and probability theory, the Dutch book arguments are a set of results showing that agents must satisfy the axioms of rational choice to avoid a kind of self-contradiction called a Dutch book. A Dutch book or money pump is a set of bets that ensures a guaranteed loss, i.e. the gambler will lose money no matter what happens. A set of beliefs and preferences is called coherent if it cannot result in a Dutch book.
Dutch book arguments - Wikipedia Jump to content From Wikipedia, the free encyclopedia (Redirected from Dutch book theorems ) Thought experiment, to justify Bayesian probability This article is about the term in probability theory. For books written in the Dutch language, see Dutch literature . This article may need to be rewritten to comply with Wikipedia's quality standards . Relevant discussion may be found on the talk page . You can help . The talk page may contain suggestions. ( July 2024 ) Part of a series on Bayesian statistics Posterior = Likelihood × Prior ÷ Evidence Background Bayesi
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