Can Free Evidence Be Bad? Value of Information for the Imprecise Probabilist

Seamus Bradley · Katie Steele

47 citations0/0 files storedPhilosophy of Science

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Epistemology, Ethics, and Metaphysics Decision-Making and Behavioral Economics Bayesian Modeling and Causal Inference

Abstract

This article considers a puzzling conflict between two positions that are each compelling: (a) it is irrational for an agent to pay to avoid ‘free’ evidence, and (b) rational agents may have imprecise beliefs. An important aspect of responding to this conflict is resolving the question of how rational (imprecise) agents ought to make sequences of decisions—we make explicit what the key alternatives are and defend our own approach. We endorse a resolution of the aforementioned puzzle—we privilege decision theories that merely permit avoiding free evidence over decision theories that make avoiding free information obligatory.

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References

1962Applied Statistical Decision Theory 1962Applied Statistical Decision Theory.1974On Indeterminate Probabilities 1996Decision Theory as Philosophy 1988Unreliable probabilities, risk taking, and decision making 1967On the Principle of Total Evidence 1982Unreliable probabilities, risk taking, and decision making 1992The Dynamics of Rational Deliberation.

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2013Uncertainty, Learning, and the “Problem” of Dilation 2021Deference Done Better 2019Discovering Patterns: On the Norms of Mechanistic Inquiry 2018Confidence in Beliefs and Rational Decision Making 2021Decision under Uncertainty

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