Epistemic decision theorists aim to justify Bayesian norms by arguing that these norms further the goal of epistemic accuracy—having beliefs that are as close as possible to the truth. The standard defense of Probabilism appeals to accuracy dominance: for every belief state that violates the probability calculus, there is some probabilistic belief state that is more accurate, come what may. The standard defense of Conditionalization, on the other hand, appeals to expected accuracy: before the evidence is in, one should expect (...) to do better by conditionalizing than by following any other rule. We present a new argument for Conditionalization that appeals to accuracy‐dominance, rather than expected accuracy. Our argument suggests that Conditionalization is a rule of coherence: plans that conflict with Conditionalization don't just prescribe bad responses to the evidence; they also give rise to inconsistent attitudes. (shrink)

According to Bayesian epistemology, the epistemically rational agent updates her beliefs by conditionalization: that is, her posterior subjective probability after taking account of evidence X, pnew, is to be set equal to her prior conditional probability pold(·|X). Bayesians can be challenged to provide a justification for their claim that conditionalization is recommended by rationality—whence the normative force of the injunction to conditionalize? There are several existing justifications for conditionalization, but none directly addresses the idea that conditionalization will be epistemically rational (...) if and only if it can reasonably be expected to lead to epistemically good outcomes. We apply the approach of cognitive decision theory to provide a justification for conditionalization using precisely that idea. We assign epistemic utility functions to epistemically rational agents; an agent’s epistemic utility is to depend both upon the actual state of the world and on the agent’s credence distribution over possible states. We prove that, under independently motivated conditions, conditionalization is the unique updating rule that maximizes expected epistemic utility. (shrink)

Several different Bayesian models of epistemic utilities (see, e. g., [37], [24], [40], [46]) have been used to explain why it is rational for scientists to perform experiments. In this paper, I argue that a model-suggested independently by Patrick Maher [40] and Graham Oddie [46]-that assigns epistemic utility to degrees of belief in hypotheses provides the most comprehensive explanation. This is because this proper scoring rule (PSR) model captures a wider range of scientifically acceptable attitudes toward epistemic risk than the (...) other Bayesian models that have been proposed. I also argue, however, that even the PSR model places unreasonably tight restrictions on a scientist's attitude toward epistemic risk. As a result, such Bayesian models of epistemic utilities fail as normative accounts-not just as descriptive accounts (see, e. g., [31], [14])-of scientific inquiry. (shrink)

Jim Joyce argues for two amendments to probabilism. The first is the doctrine that credences are rational, or not, in virtue of their accuracy or “closeness to the truth” (1998). The second is a shift from a numerically precise model of belief to an imprecise model represented by a set of probability functions (2010). We argue that both amendments cannot be satisfied simultaneously. To do so, we employ a (slightly-generalized) impossibility theorem of Seidenfeld, Schervish, and Kadane (2012), who show that (...) there is no strictly proper scoring rule for imprecise probabilities. -/- The question then is what should give way. Joyce, who is well aware of this no-go result, thinks that a quantifiability constraint on epistemic accuracy should be relaxed to accommodate imprecision. We argue instead that another Joycean assumption — called strict immodesty— should be rejected, and we prove a representation theorem that characterizes all “mildly” immodest measures of inaccuracy. (shrink)

Why should a Bayesian bother performing an experiment, one the result of which might well upset his own favored credence function? The Ramsey-Good theorem provides a decision theoretic answer. Provided you base your decision on expected utility, and the the experiment is cost-free, performing the experiment and then choosing has at least as much expected utility as choosing without further ado. Furthermore, doing the experiment is strictly preferable just in case at least one possible outcome of the experiment could alter (...) your choice of options. That is, you should pursue the information just in case it could make a difference to what you do. The problem remains, however, why one should do an experiment when nothing of much practical consequence hangs in the balance. One possibility here is to invoke the pure cognitive utility of states. It is shown that one constraint on cognitive value (what I call cogency) guarantees the value of learning: from a cognitive point of view you are justified in performing an experiment if the outcome of the experiment could make a different to what you think. A bonus of the basic framework is that it provides a new decision theoretic argument for the rationality of conditionalization. (shrink)