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Query: faculty: "FEB" and publication year: "1993"

AuthorP.P. Wakker
TitleClarification of some mathematical misunderstandings about Savage's foundation of statistics, 1954
JournalMathematical social sciences
FacultyFaculty of Economics and Business
Institute/dept.FEB: Amsterdam School of Economics Research Institute (ASE-RI)
KeywordsDecision-making uner risk and uncertainty; Mathematical methods
AbstractThis note discusses some mathematical misunderstandings about Savage (1954). It is shown that in his model the probability measure cannot be countably additive, that the set of events must be a sigma-algebra and not just an algebra, that Savage did not characterize all atomless finitely additive probability measures, and that the state space in his model, while infinite, does not have to be uncountable.
Document typeArticle
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