Dale said:
In post 384 I have several links I found useful. The second one has a brief definition that we have seemed to settle on.
The Sleeping Beauty Problem: Any halfers here?
thanks for that. From the Stanford article we get the following definition, which I'm reproducing here so everybody can see it without having to follow links:
SEP said:
Your degree of belief [credence] in E is p iff p units of utility is the price at which you would buy or sell a bet that pays 1 unit of utility if E, 0 if not E.
With that in place, we now need to know exactly what SB is betting on. In particular, we need to know whether she knows, before the experiment begins, that she will be offered a bet every day or, if not, on what basis it will be determined whether she will be offered a bet. If she does not know that,
and remember it each time she wakes up, none of the analysis I've read so far about betting applies.
Let's assume that she does know, and always remembers, that each day she will be offered the opportunity to pay ##x## dollars for a chance to name Heads or Tails and then immediately win $1 if what she named was correct, and also that ##x## will be the same every day! Then it's a simple exercise in expected values of net payoffs, as per my previous post.
The expected payoff, over the course of the entire experiment, of a strategy that always guesses Heads (recalling that Heads is associated with only being woken on Monday, on the wiki presentation) is (giving the probability for the case where the coin was actually Heads in the first term):
$$0.5\times (1-x)+ 0.5\times 2 \times(0-x)=0.5-1.5x$$
So, for the bet to be worth taking, it must have an expected payoff greater than 0.
For Heads, this means that ##0.5-1.5x>0## so that ##x<1/3##
If SB is offered the Heads bet with ##x=0.33##,
and remembers the full details of the betting program, including that she'll be offered the same bet, at the same price, every day, she will take the bet.
So on that definition, and with those very specific rules about betting, (which were not stated in the original problem statement), we might say that the credence in the proposition that the coin came up Heads is
one third.
A different conclusion is reached if SB has not been told that she will be offered a bet every day. Then she cannot do the above calculation. Her expected payoff will be the expected value
$$0.5\times (1-x)\times P_1+ 0.5\times (0-x)\times P_2+ 0.5\times (0-x)\times P_2P_3+ 0.5\times (0-x)\times (1-P_2)P_4
$$
where ##P_1## is the probability of being offered a bet on Monday, given that the coin landed Heads,
##P_2## is the probability of being offered a bet on Monday, given that the coin landed Tails, and
##P_3## is the probability of being offered a bet on Tuesday given that a bet was offered on Monday, and that the coin landed Tails.
##P_4## is the probability of being offered a bet on Tuesday given that a bet was NOT offered on Monday, and that the coin landed Tails.
This is positive if ##x<\frac{P_1}{P_1+P_2+P_2P_3+(1-P_2)P_4}##. SB would make an assumption for these three probabilities in order to decide whether to bet. One possible assumption is that the probability of being offered a bet on any day is the same as any other day and independent of whether bets have been offered on other days. If so, the credence is 1/3 again.
However, an equally plausible is the assumption that ##P_1=P_2=P_4## but that only one bet will be offered, so that a bet will not be offered on both Monday and Tuesday. In that case ##P_3=0## and the credence is
$$\frac{P_1}{3P_1-P_1{}^2}=\frac1{3-P_1}$$
which will be somewhere between a third and a half.
So
it depends on SB's knowledge of what betting opportunities will be made available to her.