Classic analysis of the subject and the development of personal probability; one of the greatest controversies in modern statistcal thought.

"[This book] proposes new foundations for the Bayesian principle of rational action, and goes on to develop a new logic of desirability and probabtility."—Frederic Schick, _Journal of Philosophy_.

We statisticians, with our specific concern for uncertainty, are even more liable than other practical men to encounter philosophy, whether we like it or not. For my part, I like it comparatively well. That is why the honor of opening this session of discussion has come to me, though my background makes my knowledge and idiom somewhat different from your own.

This paper contributes to the mathematical foundations of the model for utility theory developed by Richard Jeffrey in The Logic of Decision [5]. In it I discuss the relationship of Jeffrey's to classical models, state and interpret an existence theorem for numerical utilities and subjective probabilities and restate a theorem on their uniqueness.

A basic system of inductive logic; An axiomatic foundation for the logic of inductive generalization; A survey of inductive systems; On the condition of partial exchangeability; Representation theorems of the de finetti type; De finetti's generalizations of excahngeability; The structure of probabilities defined on first-order languages; A subjectivit's guide to objective chance.

The theory of subjective probability and utility recently proposed by professor richard jeffrey has several unique features and appears to be in some ways distinctly more satisfactory than earlier theories. There is, However, One very important class of decision problems which is not discussed by professor jeffrey--Problems concerned with decisions about strategies for using information. The principal task of this paper is to point out some questions which arise in attempting to deal with these decision problems within jeffrey's theory. To (...) do this it will be necessary to examine in some detail jeffrey's discussion of the relation between his theory and those of ramsey and savage. (shrink)