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.
All Science Journal Classification (ASJC) codes
- Theoretical Computer Science
- Artificial Intelligence
- Applied Mathematics