The pragmatic character of the Dutch book argument makes it unsuitable as an "epistemic" justification for the fundamental probabilist dogma that rational partial beliefs must conform to the axioms of probability. To secure an appropriately epistemic justification for this conclusion, one must explain what it means for a system of partial beliefs to accurately represent the state of the world, and then show that partial beliefs that violate the laws of probability are invariably less accurate than they could be otherwise. (...) The first task can be accomplished once we realize that the accuracy of systems of partial beliefs can be measured on a gradational scale that satisfies a small set of formal constraints, each of which has a sound epistemic motivation. When accuracy is measured in this way it can be shown that any system of degrees of belief that violates the axioms of probability can be replaced by an alternative system that obeys the axioms and yet is more accurate in every possible world. Since epistemically rational agents must strive to hold accurate beliefs, this establishes conformity with the axioms of probability as a norm of epistemic rationality whatever its prudential merits or defects might be. (shrink)

Joyce and others have claimed that degrees of belief are estimates of truth-values and that the probability axioms are conditions of admissibility for these estimates with respect to a scoring rule penalizing inaccuracy. In this article, I argue that the claim that the rules of probability are truth-directed in this way depends on an assumption that is both implausible and lacks any supporting evidence, strongly suggesting that the probability axioms have nothing intrinsically to do with truth-directedness.