Hum… how about seeing enforcement of dynamic consistency as having a complexity/​computation cost, and Dutch books (by other agents or by the environment) providing incentives to pay the cost? And hence the absence of these Dutch books meaning there is little incentive to pay that cost?
Hum… how about seeing enforcement of dynamic consistency as having a complexity/​computation cost, and Dutch books (by other agents or by the environment) providing incentives to pay the cost? And hence the absence of these Dutch books meaning there is little incentive to pay that cost?