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    Savage's sure-thing principle and subsequent work by Mach... — Carmelics
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    Challenges→The fugitive's best course of action is to randomize bridge selection using a three-sided die (or equivalent) and pre-commit to that selection.

    Savage's sure-thing principle and subsequent work by Machina show that agents facing genuine uncertainty (not risk) cannot assign meaningful probabilities to novel strategic environments.

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    Key Terms

    Genuine uncertainty(as contrasted with theoretical certainty)
    A real situation where you don't have complete information and can't be totally sure what's true or what will happen.
    Machina(as a scholar referenced in decision theory)
    Mark Machina is an economist who built on Savage's work by showing that people don't always follow the sure-thing principle when making real decisions under uncertainty.
    Meaningful probabilities(as used in probability and decision theory)
    Reliable numbers representing the actual likelihood of different outcomes—numbers you can trust and use to make good decisions.
    Novel strategic environments(as used in game theory and decision theory)
    Completely new and unique situations where people interact with each other, and nobody has faced this exact scenario before, so there's no clear playbook.

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    Savage's sure-thing principle(as used in decision theory and economics)
    A rule named after mathematician Leonard Savage that says: if one choice would be better than another no matter what happens in the world, you should always pick that better choice.
    risk(The author is characterizing and then challenging the standard decision-theoretic conception of risk.)
    In the probabilistic framework under critique, risks are treated as probabilistic mixtures of outcomes.

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    2 topics

    Consequentialism1 linkedMoral Responsibility1 linked

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    The fugitive's best course of action is to randomize bridge selection using a th...

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