The focus of this paper is to examine the problem of induction as a methodology for science. It also evaluates Karl Popper’s deductive approach as the suitable methodology for scientific research. Popper calls his theory ‘hypothetico-deductive methodology’. However, this paper argues the...

We extend de Finetti’s (1974) theory of coherence to apply also to unbounded random variables. We show that for random variables with mandated infinite prevision, such as for the St. Petersburg gamble, coherence precludes indifference between equivalent random quantities. That is, we...