We explore the question of whether cost-free uncertain evidence is worth waiting for in advance of making a decision. A classical result in Bayesian decision theory, known as the value of evidence theorem, says that, under certain conditions, when you update your credences by conditionalizing on some cost-free and certain evidence, the subjective expected utility of obtaining this evidence is never less than the subjective expected utility of not obtaining it. We extend this result to a type of update method, (...) a variant of Judea Pearl’s virtual conditionalization, where uncertain evidence is represented as a set of likelihood ratios. Moreover, we argue that focusing on this method rather than on the widely accepted Jeffrey conditionalization enables us to show that, under a fairly plausible assumption, gathering uncertain evidence not only maximizes expected pragmatic utility, but also minimizes expected epistemic disutility. (shrink)

A standard way to challenge convergence-based accounts of inductive success is to claim that they are too weak to constrain inductive inferences in the short run. We respond to such a challenge by answering some questions raised by Juhl (1994). When it comes to predicting limiting relative frequencies in the framework of Reichenbach, we show that speed-optimal convergence—a long-run success condition—induces dynamic coherence in the short run.

In this paper, I defend an empiricist account of modality that keeps a substantive account of modal commitment, but throws out the metaphysics. I suggest that if we pair a deflationary attitude toward representation with a substantive account of how scientific models are constructed and put to use, the result is an account that deflates the metaphysics of modal commitment without deflating the content of modal claims.

Rescorla explores the relation between Reflection, Conditionalization, and Dutch book arguments in the presence of a weakened concept of sure loss and weakened conditions of self‐transparency for doxastic agents. The literature about Reflection and about Dutch Book arguments, though overlapping, are distinct, and its history illuminates the import of Rescorla's investigation. With examples from a previous debate in the 70s and results about Reflection and Conditionalization in the 80s, I propose a way of seeing the epistemic enterprise in the light (...) of practical requirements to be met by demands for synchronic coherence and probability updating policies. This includes a defense of principles rejected by Rescorla, while allowing for the value of his results in the borderland between theories of cognition and formal epistemology. (shrink)