Against dynamic consistency: Why not time-slice rationality?
anthonydigiovanni.substack.com · 1,352 words · saved by 1 readers
[Disclaimer: Esoteric musings.
[Disclaimer: Esoteric musings. This post probably won’t make sense if you aren’t familiar with “updateless decision theory.”] I’ve been skeptical for a while of updateless decision theory, diachronic Dutch books, and dynamic consistency as a rational requirement. I think Hedden's (2015) notion of time-slice rationality1 nicely grounds the cluster of intuitions behind this skepticism. (Note: Time-slice rationality is a normative standard, i.e., a statement of what it even means to “win” (if rationality = “winning”). This is not to say that winning with respect to time-slice rationality…
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