This book defends the view that any adequate account of rational decision making must take a decision maker's beliefs about causal relations into account. The early chapters of the book introduce the non-specialist to the rudiments of expected utility theory. The major technical advance offered by the book is a 'representation theorem' that shows that both causal decision theory and its main rival, Richard Jeffrey's logic of decision, are both instances of a more general conditional decision theory. The book solves (...) a long-standing problem for Jeffrey's theory by showing for the first time how to obtain a unique utility and probability representation for preferences and judgements of comparative likelihood. The book also contains a major new discussion of what it means to suppose that some event occurs or that some proposition is true. The most complete and robust defence of causal decision theory available. (shrink)

APA PsycNET abstract: This is the first volume of a two-volume work on Probability and Induction. Because the writer holds that probability logic is identical with inductive logic, this work is devoted to philosophical problems concerning the nature of probability and inductive reasoning. The author rejects a statistical frequency basis for probability in favor of a logical relation between two statements or propositions. Probability "is the degree of confirmation of a hypothesis (or conclusion) on the basis of some given evidence (...) (or premises)." Furthermore, all principles and theorems of inductive logic are analytic, and the entire system is to be constructed by means of symbolic logic and semantic methods. This means that the author confines himself to the formalistic procedures of word and symbol systems. The resulting sentence or language structures are presumed to separate off logic from all subjectivist or psychological elements. Despite the abstractionism, the claim is made that if an inductive probability system of logic can be constructed it will have its practical application in mathematical statistics, and in various sciences. 16-page bibliography. (PsycINFO Database Record (c) 2016 APA, all rights reserved). (shrink)

With this treatise, an insightful exploration of the probabilistic connection between philosophy and the history of science, the famous economist breathed new life into studies of both disciplines. Originally published in 1921, this important mathematical work represented a significant contribution to the theory regarding the logical probability of propositions. Keynes effectively dismantled the classical theory of probability, launching what has since been termed the “logical-relationist” theory. In so doing, he explored the logical relationships between classifying a proposition as “highly probable” (...) and as a “justifiable induction.” Unabridged republication of the classic 1921 edition. (shrink)

Contemporary Bayesian confirmation theorists measure degree of (incremental) confirmation using a variety of non-equivalent relevance measures. As a result, a great many of the arguments surrounding quantitative Bayesian confirmation theory are implicitly sensitive to choice of measure of confirmation. Such arguments are enthymematic, since they tacitly presuppose that certain relevance measures should be used (for various purposes) rather than other relevance measures that have been proposed and defended in the philosophical literature. I present a survey of this pervasive class of (...) Bayesian confirmation-theoretic enthymemes, and a brief analysis of some recent attempts to resolve the problem of measure sensitivity. (shrink)

Epistemologists and philosophers of science have often attempted to express formally the impact of a piece of evidence on the credibility of a hypothesis. In this paper we will focus on the Bayesian approach to evidential support. We will propose a new formal treatment of the notion of degree of confirmation and we will argue that it overcomes some limitations of the currently available approaches on two grounds: (i) a theoretical analysis of the confirmation relation seen as an extension of (...) logical deduction and (ii) an empirical comparison of competing measures in an experimental inquiry concerning inductive reasoning in a probabilistic setting. (shrink)

The old evidence problem affects any probabilistic confirmation measure based on comparing pr(H/E) and pr(H). The article argues for the following points: (1) measures based on likelihood ratios also suffer old evidence difficulties; (2) the less-discussed synchronic old evidence problem is, in an important sense, the most acute; (3) prominent attempts to solve or dissolve the synchronic problem fail; (4) a little-discussed variant of the standard measure avoids the problem, in an appealing way; and (5) this measure nevertheless reveals a (...) different problem for probabilistic confirmation measures, a problem that is unlikely to lend itself to formal solution. (shrink)

outlined. This account is partly inspired by the work of C.S. Peirce. When we want to consider how degree of confirmation varies with changing I show that a large class of quantitative Bayesian measures of con-.

A Bayesian account of independent evidential support is outlined. This account is partly inspired by the work of C. S. Peirce. I show that a large class of quantitative Bayesian measures of confirmation satisfy some basic desiderata suggested by Peirce for adequate accounts of independent evidence. I argue that, by considering further natural constraints on a probabilistic account of independent evidence, all but a very small class of Bayesian measures of confirmation can be ruled out. In closing, another application of (...) my account to the problem of evidential diversity is also discussed. (shrink)

This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and (...) made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. (shrink)

The conjunction fallacy has been a key topic in debates on the rationality of human reasoning and its limitations. Despite extensive inquiry, however, the attempt to provide a satisfactory account of the phenomenon has proved challenging. Here we elaborate the suggestion (first discussed by Sides, Osherson, Bonini, & Viale, 2002) that in standard conjunction problems the fallacious probability judgements observed experimentally are typically guided by sound assessments of _confirmation_ relations, meant in terms of contemporary Bayesian confirmation theory. Our main formal (...) result is a confirmation-theoretic account of the conjunction fallacy, which is proven _robust_ (i.e., not depending on various alternative ways of measuring degrees of confirmation). The proposed analysis is shown distinct from contentions that the conjunction effect is in fact not a fallacy, and is compared with major competing explanations of the phenomenon, including earlier references to a confirmation-theoretic account. (shrink)

Plausibly, when we adopt a probabilistic standpoint any measure Cb of the degree to which evidence e confirms hypothesis h relative to background knowledge b should meet these five desiderata: Cb > 0 when P > P < 0 when P < P; Cb = 0 when P = P. Cb is some function of the values P and P assume on the at most sixteen truth-functional combinations of e and h. If P < P and P = P then (...) Cb ≤ Cb; if P = P and P < P then Cb ≥ Cb. Cb – Cb is fully determined by Cb and Cbe – Cbe; if Cb = 0 then Cb + Cbe = 0. If P = P then Cb = Cb. (shrink)

This book makes a significant contribution to the standard decision theory, that is, the theory of choice built around the principle of maximizing expected utility, both to its causal version and to the more traditional noncausal approach. The author’s success in clarifying the foundations of the standard decision theory in general, and causal decision theory in particular, also makes the book uniquely suitable for a person whose research in philosophy has led her to want to learn about contemporary decision theory. (...) The book presupposes some mathematical sophistication, and it contains more philosophical and mathematical argumentation per page than may be suitable for an undergraduate level course; but it stands out as an ideal textbook for a graduate-level course focused on the foundations of the standard decision theory. (shrink)

First published in 1982, Ellery Eells' original work on rational decision making had extensive implications for probability theorists, economists, statisticians and psychologists concerned with decision making and the employment of Bayesian principles. His analysis of the philosophical and psychological significance of Bayesian decision theories, causal decision theories and Newcomb's paradox continues to be influential in philosophy of science. His book is now revived for a new generation of readers and presented in a fresh twenty-first-century series livery, including a specially commissioned (...) preface written by Brian Skyrms, illuminating its continuing importance and relevance to philosophical enquiry. (shrink)

In past years, the traditional Bayesian theory of rational decision making, based on subjective calculations of expected utility, has faced powerful attack from philosophers such as David Lewis and Brian Skyrms, who advance an alternative causal decision theory. The test they present for the Bayesian is exemplified in the decision problem known as 'Newcomb's paradox' and in related decision problems and is held to support the prescriptions of the causal theory. As well as his conclusions, the concepts and methods of (...) Professor Eells introduces in the course of his analyses have extensive implications, not solely for probability theorists narrowly conceived, but for economists, statisticians and psychologists concerned with decision making and the employment of Bayesian principles. They and their students will, in addition, find the early chapters of great use as a background and introduction to the subject as a whole. (shrink)