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Followup to: The Savage theorem and the Ellsberg paradox In the previous post, I presented a simple version of Savage's theorem, and I introduced the Ellsberg paradox. At the end of the post, I mentioned a strong Bayesian thesis, which can be summarised: "There is always a price to pay...

Followup to: A summary of Savage's foundation for probability and utility. In 1961, Daniel Ellsberg, most famous for leaking the Pentagon Papers, published the decision-theoretic paradox which is now named after him 1. It is a cousin to the Allais paradox. They both involve violations of an independence or separability...