All this shows that there seems to be a fundamental problem with the formalized version of rationality.
Only one? (emphasis added to quotation)
My take on it is that at least one of the axioms, in each formalized utility theory of the usual stripe, is rationally non-binding. See Wei_Dai2′s response to the Allais Paradox thread, for an example of one suspect, the Axiom of Independence in Von Neumann-Morgenstern utility theory.
Only one? (emphasis added to quotation)
My take on it is that at least one of the axioms, in each formalized utility theory of the usual stripe, is rationally non-binding. See Wei_Dai2′s response to the Allais Paradox thread, for an example of one suspect, the Axiom of Independence in Von Neumann-Morgenstern utility theory.