A generalization of deFinetti's Fundamental Theorem of Probability facilitates coherent assessment by iterated natural extension of imprecise probabilities or expectations, conditional and unconditional. Point values are generalized to assessed bounds accepted under weak coherence, allowing the input of weakened bounds. The method is realized in a convenient interactive computer program, demonstrated here and made available as open source code.
Keywords. Assessment; Imprecise Probabilities; Imprecise Prevision, Coherence, Natural Extension, Interactive Computing
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Authors addresses:
School of Statistics FordH313
University of Minnesota
Minneapolis, MN 55455
E-mail addresses:
| James M. Dickey | dickey@stat.umn.edu |