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On the logical structure of de Finetti's notion of event

Author

Listed:
  • Flaminio, Tommaso
  • Godo, Lluis
  • Hosni, Hykel

Abstract

This paper sheds new light on the subtle relation between probability and logic by (i) providing a logical development of Bruno de Finetti's conception of events and (ii) suggesting that the subjective nature of de Finetti's interpretation of probability emerges in a clearer form against such a logical background. By making explicit the epistemic structure which underlies what we call Choice-based probability we show that whilst all rational degrees of belief must be probabilities, the converse doesn't hold: some probability values don't represent decision-relevant quantifications of uncertainty.

Suggested Citation

  • Flaminio, Tommaso & Godo, Lluis & Hosni, Hykel, 2014. "On the logical structure of de Finetti's notion of event," LSE Research Online Documents on Economics 47268, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:47268
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    File URL: http://eprints.lse.ac.uk/47268/
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    More about this item

    Keywords

    events; de Finetti's coherence criterion; informations frames; choice-based probability;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

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