Dutch Book arguments as the primary way of defending expected utility maximization
The von Neumann-Morgenstern theorem isn’t a Dutch book argument, and the primary purpose of Dutch book arguments is to defend classical probability, not expected utility maximization. von Neumann-Morgenstern also assumes classical probability. Jaynes uses Cox’s theorem to defend classical probability rather than a Dutch book argument (he says something like using gambling to defend probability is uncouth).
I don’t really understand what issue the first reference you cite claims exists. It doesn’t seem to be what the second reference you cite is claiming.
I don’t really understand what issue the first reference you cite claims exists. It doesn’t seem to be what the second reference you cite is claiming.
I’m not really sure whether the parts of Wakker that I quoted are the parts that the first cite is referring, either—it could be that the first cite is talking about something completely different. That was the only part in Wakker that I could find that seemed possibly relevant, but then my search was extremely cursory, since I don’t really have the time to read through a 500-page book with dense technical material.
The von Neumann-Morgenstern theorem isn’t a Dutch book argument, and the primary purpose of Dutch book arguments is to defend classical probability, not expected utility maximization. von Neumann-Morgenstern also assumes classical probability. Jaynes uses Cox’s theorem to defend classical probability rather than a Dutch book argument (he says something like using gambling to defend probability is uncouth).
I don’t really understand what issue the first reference you cite claims exists. It doesn’t seem to be what the second reference you cite is claiming.
I’m not really sure whether the parts of Wakker that I quoted are the parts that the first cite is referring, either—it could be that the first cite is talking about something completely different. That was the only part in Wakker that I could find that seemed possibly relevant, but then my search was extremely cursory, since I don’t really have the time to read through a 500-page book with dense technical material.