The Role of Subjective Probability and Utility in Decision-making

@inproceedings{Suppes2002TheRO,
  title={The Role of Subjective Probability and Utility in Decision-making},
  author={Patrick Suppes},
  year={2002}
}
Although many philosophers and statisticians believe that only an objectivistic theory of probability can have serious application in the sciences, there is a growing number of physicists and statisticians, if not philosophers, who advocate a subjective theory of probability. The increasing advocacy of subjective probability is surely due to the increasing awareness that the foundations of statistics are most properly constructed on the basis of a general theory of decision-making. In a given… CONTINUE READING
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