STOR Colloquium: Glenn Shafer (Rutgers, The State University of New Jersey)

"Three betting interpretations of probability."

There are three important ways of interpreting the betting odds given by
probabilities:
1.  The classical interpretation:  they are the correct odds.
2.  The subjective interpretation:  they are your odds.
3.  The Ville interpretation:  a betting strategy that uses them will not
multiply the capital risked by a large factor.
The Ville interpretation clarifies the domain of application of Bayesian
conditioning and extends to Walley's upper and lower probabilities and to
Dempster-Shafer belief functions.

Refreshments will be served at 3:30pm in the 3rd floor lobby of Hanes Hall