Rationality and the Bayesian Paradigm
from MCMP – Philosophy of Science
Itzhak Gilboa (HEC) gives a talk at the 6th Munich-Sydney-Tilburg Conference on "Models and Decisions" (10-12 April, 2013) titled "Rationality and the Bayesian Paradigm". Abstract: It is claimed that rationality does not imply Bayesianism. We first define what is meant by the two terms, so that the statement is not tautologically false. Two notions of rationality are discussed, and related to two main approaches to statistical inference. It is followed by a brief survey of the arguments against the definition of rationality by Savage's axioms, as well as some alternative approaches to decision making.
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