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Brief discussion and an example of the difference between Savage's and Jeffrey's frameworks for decision theory.

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What is the main difference between Savage's and Jeffrey's framework for decision theory?

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1. Savage's framework

Jeffrey's decision-theoretic model is meant to enrich the classical Savage type framework. In Savage's model, states of nature are probabilistically independent of acts. The decision-maker chooses the act that has the greatest expected utility (EU), which is computed as a weighted ...

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