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The sure-thing principle and P2

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  • Liu, Yang

Abstract

This paper offers a fine analysis of different versions of the well known sure-thing principle. We show that Savage’s formal formulation of the principle, i.e., his second postulate (P2), is strictly stronger than what is intended originally.

Suggested Citation

  • Liu, Yang, 2017. "The sure-thing principle and P2," Economics Letters, Elsevier, vol. 159(C), pages 221-223.
    • Handle: RePEc:eee:ecolet:v:159:y:2017:i:c:p:221-223
    DOI: 10.1016/j.econlet.2017.07.027
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    More about this item

    Keywords

    Bayesian decision theory; The sure-thing principle; Dominance principle; Conditional preference;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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