Coherence (philosophical Gambling Strategy)

Coherence (philosophical Gambling Strategy)

In a thought experiment proposed by the Italian probabilist Bruno de Finetti in order to justify Bayesian probability, an array of wagers is coherent precisely if it does not expose the wagerer to certain loss regardless of the outcomes of events on which he is wagering, even if his opponent makes the most judicious choices.

Read more about Coherence (philosophical Gambling Strategy):  Operational Subjective Probabilities As Wagering Odds, "Dutch Books", Conditional Wagers and Conditional Probabilities, Coherence

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