Dear all,

The next meeting of the Serious Metaphysics Group will be on Thursday 
(the 12th). Jossi Berkovitz (University of Toronto) will be speaking on 
'A New Interpretation of De Finetti's Theory of Subjective Probability' 
(abstract below). As usual, we'll meet from 1:00 - 2:30pm in the 
Graduate Common Room in the Philosophy Faculty.

Hope to see you there,

Georgie



A New Interpretation of De Finetti's Theory of Subjective Probability

De Finetti is one of the founding fathers of the modern theory of 
subjective probability, where probabilities are coherent degrees of 
belief. De Finetti rejected the idea that subjective probabilities are 
supposed to be guesses, predictions or hypotheses about the 
corresponding objective probabilities. He argued that probabilities are 
inherently subjective, and that none of the objective interpretations of 
probability makes sense.

While de Finetti's theory has been influential in science and 
philosophy, it has encountered various objections. In particular, it has 
been argued that de Finetti's concept of probability is too permissive, 
licensing degrees of belief that we would normally call 'crazy'. 
Further, de Finetti is commonly conceived as giving an operational, 
behaviorist definition of degrees of belief and accordingly of 
probability. The claim is that degrees of belief are defined in terms of 
behaviors and behavioral dispositions in (hypothetical and actual) 
betting circumstances. Thus, the theory is said to inherit the 
difficulties embodied in operationalism and behaviorism.

I argue that these and some other objections are unfounded as they 
overlook various central aspects of de Finetti's philosophy of 
probability. I then propose a new interpretation of de Finetti's theory 
that highlights these central aspects and explains how they are integral 
part of de Finetti's instrumentalist philosophy of probability.

-- 
Georgie Statham
PhD Candidate
Faculty of Philosophy
University of Cambridge


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