Statistics and the Evaluation of Evidence for Forensic Scientists. Franco Taroni
race to be coherent, the sum of the probabilities over all the horses must be 1. This property characterises a ‘reasonable individual’. An example is presented in Section 1.7.6.
For a historical and philosophical discussion of subjective probabilities and a commentary on the work of de Finetti and Savage in the middle of the twentieth century, see Lindley (1980), Lad (1996), Taroni et al. (2001), Dawid (2004), Dawid and Galavotti (2009), Galavotti (2016, 2017), and Zynda (2016).
Savage, like de Finetti, viewed a personal probability as a numerical measure of the confidence a person has in the truth of a particular proposition. This opinion is viewed with scepticism today and was viewed with scepticism then (Savage 1967), as illustrated by Savage (1954).
I personally consider it more probable that a Republican president will be elected in 1996 than it will snow in Chicago sometime in the month of May, 1994. But even this late spring snow seems to me more probable than that Adolf Hitler is still alive. Many, after careful consideration, are convinced that such statements about probability to a person mean precisely nothing or, at any rate, that they mean nothing precisely. At the opposite extreme, others hold the meaning to be so self‐evident [
1.7.6 The Quantification of Probability Through a Betting Scheme
The introduction of subjective probability through a betting scheme is straightforward. The concept is based on hypothetical bets (Scozzafava 1987):
The force of the argument does not depend on whether or not one actually intends to bet, yet a method of evaluating probabilities making one a sure loser if he had to gamble (whether or not he really will act so) would be suspicious and unreliable for any purposes whatsoever. (p. 685)
Consider a proposition
The probability of event
Coherence, as briefly described in Section 1.7.2, is defined by the requirement that the choice of
When
This happens when
1 (1) ;
2 (2) .
Consider the case of
1 (3) .
These conditions are the axioms of probability. Further details are given by de Finetti (1931b) and in