Cost-benefit versus expected utility acceptance rules

Theory and Decision 1 (1):61-88 (1970)
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Abstract

A rule for the acceptance of scientific hypotheses called ‘the principle of cost-benefit dominance’ is shown to be more effective and efficient than the well-known principle of the maximization of expected (epistemic) utility. Harvey's defense of his theory of the circulation of blood in animals is examined as a historical paradigm case of a successful defense of a scientific hypothesis and as an implicit application of the cost-benefit dominance rule advocated here. Finally, various concepts of ‘dominance’ are considered by means of which the effectiveness of our rule may be increased.

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original Michalos, Alex C. (1970) "Cost-Benefit versus Expected Utility Acceptance Rules". PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1970(1):375-402

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References found in this work

Inductive inconsistencies.Carl Gustav Hempel - 1960 - Synthese 12 (4):439-69.
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The white shoe qua Herring is pink.I. J. Good - 1968 - British Journal for the Philosophy of Science 19 (2):156-157.

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