A betting interpretation for probabilities and Dempster-Shafer degrees of belief

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Abstract

There are at least two ways to interpret numerical degrees of belief in terms of betting: You can offer to bet at the odds defined by the degrees of belief.You can make the judgement that a strategy for taking advantage of such betting offers will not multiply the capital it risks by a large factor. Both interpretations can be applied to ordinary additive probabilities and used to justify updating by conditioning. Only the second can be applied to Dempster-Shafer degrees of belief and used to justify Dempster's rule of combination.

Original languageEnglish (US)
Pages (from-to)127-136
Number of pages10
JournalInternational Journal of Approximate Reasoning
Volume52
Issue number2
DOIs
StatePublished - Feb 2011

All Science Journal Classification (ASJC) codes

  • Software
  • Theoretical Computer Science
  • Artificial Intelligence
  • Applied Mathematics

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