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The paradox of the Bayesian experts

In David Corfield & Jon Williamson (eds.), Foundations of Bayesianism. Kluwer Academic Publishers. pp. 309-338 (2001)

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  1. Essays on Economic Decisions Under Uncertainty.Jacques Drèze - 1990 - Cambridge University Press.
    Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and (...)
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  • State-Dependent Utilities.Mark J. Schervish, Teddy Seidenfeld & Joseph B. Kadane - unknown
    Several axiom systems for preference among acts lead to a unique probability and a state-independent utility such that acts are ranked according to their expected utilities. These axioms have been used as a foundation for Bayesian decision theory and subjective probability calculus. In this article we note that the uniqueness of the probability is relative to the choice of whatcounts as a constant outcome. Although it is sometimes clear what should be considered constant, in many cases there are several possible (...)
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