Munich Center for Mathematical Philosophy | Video Abstract Server
Itzhak Gilboa (Paris & Tel-Aviv):
Rationality and the Bayesian Paradigm
MCMP at First Sight (Video Abstract)
Itzhak Gilboa (Paris & Tel-Aviv) presents a video abstract of "Rationality and the Bayesian Paradigm" on "MCMP at First Sight". About the talk at the 6th Munich-Sydney-Tilburg Conference "Models and Decisions" (10-12 April, 2013): It is claimed that rationality does not imply Bayesianism. We first define what is meant by the two terms, so that the statement is not tautologically false. Two notions of rationality are discussed, and related to two main approaches to statistical inference. It is followed by a brief survey of the arguments against the definition of rationality by Savage's axioms, as well as some alternative approaches to decision making.