Non-Bayesian Decision Theory - Itzhak Gilboa

Source - serious-science.org/non-bayesi...
What influences our decision when we assess the probability of some event? What is there besides simple mathematical laws? Is there an absolutely complete mathematical model? Mathematician Itzhak Gilboa describes thought experiments, which show the insufficiency of Bayesian decision theory.

[@markjwarner85]

Ellsburg experiment and the discussion around foreign vs home investing can perhaps be further understood with David Tuckett's Conviction Narrative Theory (CNT). Picking from the urn with known black and red enables one to build a "better" narrative, "There is definitely a red ball in there", rather than, "There might be a red ball in there". Similar to the urn paradox, investing at home enables the construction of locally contextualized narrative.

[@G0dless88]

Mi tesis....

[@Gringohuevon]

Doesn't understand probability

[@leonenriquez5031]

Awesome videos, but do take a glass of water with you... your constant and loud saliva passing is very distracting!