Savage, de Finetti, and the making of The Foundations of Statistics , 1949–1954
Bibliographic Data
| ID | 21604662 |
|---|---|
| Authors | Zeid Al Kaffaf (corresponding author) |
| Year | 2025 |
| Pages | 1-25 |
| Publication date | 2025-08-20 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | European Journal of the History of Economic Thought (JOURNAL) |
| Journal identifiers | ISSN: 0967-2567 • E-ISSN: 1469-5936 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/09672567.2025.2546806 |
| OpenAlex | W4413339736 |
| Language | EN |
| References cited | 21 |
The publication of The Foundations of Statistics (1954) by Leonard Savage established subjective expected utility theory as central to decision-making under uncertainty. This article explores how Savage’s ideas were influenced by his interactions with the Italian probabilist Bruno de Finetti during the period 1949–1954. It shows that while Savage independently developed aspects of subjective probability, his framework was deeply informed by de Finetti’s pioneering work. The article highlights key differences in their approaches, with de Finetti focusing on probabilistic judgement and Savage expanding these ideas into a broader theory of rational decision-making under uncertainty
Econometrics · Economics · Mathematical economics · Philosophy and History of Science
Le Comportement de l'Homme Rationnel devant le Risque
Risk, Ambiguity, and the Savage Axioms
Leonard Savage, the Ellsberg Paradox, and the Debate on Subjective Probabilities
Uncertainty goes mainstream
Theory of Games and Economic Behavior
Samuelson's Foundations
The Expected-Utility Hypothesis and the Measurability of Utility
The Utility Analysis of Choices Involving Risk
Retrospectives
From Wald to Savage
| Citation velocity | historical |
|---|---|
| Highly cited | No |