Dutch Book Arguments

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[Revised entry by Susan Vineberg on May 14, 2022.
Changes to: Main text, Bibliography]
The Dutch Book argument (DBA) for probabilism (namely the view that an agent’s degrees of belief should satisfy the axioms of probability) traces to Ramsey’s work in “Truth and Probability”. He mentioned only in passing that an agent who violates the probability axioms would be vulnerable to having a book made against him and this has led to considerable debate and confusion both about exactly what Ramsey intended to show and about if, and how, a cogent version of the argument can be given. The basic idea behind…

Originally appeared on Stanford Encyclopedia of Philosophy Read More

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