Dutch book

Noun

Meaning

English Wikipedia has an article on:Dutch bookWikipedia
Dutch book (plural Dutch books)

A set of trades or bets such that, regardless of the outcome of events, one party strictly profits and another strictly loses.
Synonym: lock

Synonyms

Examples

A Dutch book is made when a clever gambler places a set of bets that guarantee a profit, no matter what the outcome of the bets. Source: Internet

If a bookmaker follows the rules of the Bayesian calculus in the construction of his odds, a Dutch book cannot be made. Source: Internet

For example, Hacking writes Hacking (1967, Section 3, page 316), Hacking (1988, page 124) "And neither the Dutch book argument, nor any other in the personalist arsenal of proofs of the probability axioms, entails the dynamic assumption. Source: Internet

Hacking wrote Hacking (1967, Section 3, p. 316), Hacking (1988, p. 124) "And neither the Dutch book argument, nor any other in the personalist arsenal of proofs of the probability axioms, entails the dynamic assumption. Source: Internet

However, Ian Hacking noted that traditional Dutch book arguments did not specify Bayesian updating: they left open the possibility that non-Bayesian updating rules could avoid Dutch books. Source: Internet

Ian Hacking noted that traditional " Dutch book " arguments did not specify Bayesian updating: they left open the possibility that non-Bayesian updating rules could avoid Dutch books. Source: Internet

Close letter words and terms