# Term Paper On Bayesian Reasoning

Ramsey and de Finetti first employed synchronic Dutch Book Arguments in support of the probability laws as standards of synchronic coherence for degrees of belief.

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For more on the laws of probability, see the following supplementary article: By itself, the definition of conditional probability is of little epistemological significance.

It acquires epistemological significance only in conjunction with a further epistemological assumption: (assumed to state the totality of one's new evidence and to have initial probability greater than zero), then rationality requires that one systematically transform one's initial probabilities to generate final or In epistemological terms, this Simple Principle of Conditionalization requires that the effects of evidence on rational degrees be analyzed in two stages: The first is non-inferential.

The Lewis/Teller argument depends on a further descriptive or normative assumption about conditional probabilities due to de Finetti: An agent with conditional probability , their significance is that they show that those whose degrees of belief violate the probability laws or those whose probabilistic inferences predictably violate a principle of conditionalization are liable to enter into wagers on which they are sure to lose.

There is very little to be said for the literal-minded interpretation, because there is no basis for claiming that rationality requires that one be willing to wager in accordance with the behavioral assumptions described above.

Dutch Book Arguments represent the possibility of a new kind of justification for epistemological principles.

A Dutch Book Argument relies on some descriptive or normative assumptions to connect degrees of belief with willingness to wager — for example, a person with degree of belief is a Dutch Book combination of wagers that one will be motivated to enter into at different times.

In addition to reporting Lewis's Dutch Book Argument, Teller offers a non-pragmatic defense of Conditionalization.

There have been many proposed non-pragmatic defenses of the probability laws (e.g., van Fraassen; Shimony). All such defenses, whether pragmatic or non-pragmatic, produce a puzzle for Bayesian epistemology: The principles of Bayesian epistemology are typically proposed as principles of content?

This recently published paper provides an annotated reading list for learning about Bayesian modeling.

rationality as a way of extending the justification of the laws of deductive logic to include a justification for the laws of inductive logic.

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