Analysis reveals the lottery problem complicates beliefs in ranking theory, suggesting limitations in its application.
Ranking Theory has been developed as an alternative to subjec- tive probability for modelling partial belief. It goes further than probability in that it jointly models both full and partial belief. One selling feature is that the Lottery Paradox does not arise in Ranking Theory. However, all is not well when it comes to modelling lottery beliefs with ranks. In this paper, I show how lotteries create problems for Ranking Theory.
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Gerrit Neels (2025) studied this question.
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