The Logic of Belief and Belief Change: A Decision Theoretic Approach
Savage [L. Savage, ‘‘The Foundations of Statistics,’’ Wiley, New York, 1954] showed how properties of a decision maker’s probabilistic beliefs can be deduced from primitive consistency axioms on preferences. This paper extends that approach and shows how logical properties of beliefwhich underlie economists’ models of information and knowledgecan be related to properties of preferences. Journal of