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First of all, how can something like this be âprovedâ? It seems to be an empirical matter. But more importantly, the article later says, with regards to the failure of the theory to predict actual choices, that âSavage's response was not that this showed a flaw in his method, rather that applying his
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I don't see how it's an empirical matter. Once you have axiomatized what it means for an individual to be "rational" and to hold "beliefs", then the question becomes a matter of mathematical logic. The crucial condition in the first sentence that you quoted is "if you adhere to the axioms of
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claim, since this one also contains the problematic claim of a proof. Could we either get a description more in line with Savage's own claim, or a reference for this flaw?
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on
Knowledge. If you would like to support the project, please visit the project page, where you can get more details on how you can help, and where you can join the
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You write : "Savage assumed that it is possible to take convex combinations of decisions and that preferences would be preserved. So if you prefer
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The article claims that âSavage proved that, if you adhere to axioms of rationality, if you believe an uncertain event has possible outcomes
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rationality", this means the rest is a normative statement of logic, rather than a positive statement of empirical observation.
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reason. This problem is so flagrant that I have to question whether Savage ever actually made the
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actual choices, but according to the second quote it is a normative theory about how people
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Could we perhaps create a page for Savage
Paradigm that redirects here?
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The first paragraph claims a descriptive role for the theory, that it
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then your choices can be explained as arising from a functionâŠâ
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method allowed individuals to improve their decision making.â
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column on 29 July 2004. The text of the entry was as follows:
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