Degree of Belief vs. Assumptions

Assumptions - Either true or false Decisions tend to follow naturally from the assumptions made Pro: less information is needed Con: Derived facts might turn out to be false later Degree of Belief: Continuous in interval , gives more information than assumptions Decision-making: Decision Theory = Prob. Theory + Utility Theory Con: more information is needed Pro: degrees of belief do not imply any particular truth of the underlying propositions, pitfalls can be avoided