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Ep 111: Probability - Reality, Rationality and Risk

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The Decision Theoretic Approach to Quantum Theory

The way out of this is the decision theoretic approach, sometimes to the born rule. All that assumes collapse of the wave function. And of course, we know this does not happen. So things are not actually random in the universe. Nothing actually random happens. It's just that the laws are such that for any observer, things are unpredictable. That's unpredictability in the subjective sense. We can reach the same conclusions without ever assuming collapse happens. Why assume collapse happens? Go to the beginning of infinity. Not wanting to take the theory literally as a description of reality, but realism is parsimonious. The idea of credence, a central part of basian epistemology,

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