Professor Teddy Seidenfeld (homepage) visited the Algorithms & Complexity group of the Centrum Wiskunde & Informatica on 3 and 4 July 2014. He is an expert in the foundations of probability and statistics.
Peter Grünwald & Erik Quaeghebeur organized a small workshop on the occasion of his visit, the program of which you can find below. Next to one scheduled talk there were a number of discussion sessions.
The time before, between, and after the sessions was used for lunch, coffee breaks, rest, etc.
Statistical decision theory, whether based on Bayesian principles or other concepts such as minimax or admissibility, relies on minimizing expected loss or maximizing expected utility. Loss and utility functions are generally treated as unit-less numerical measures of value for consequences. Here, we address the issue of the units in which loss and utility are settled and the implications that those units have on the rankings of potential decisions. When multiple currencies are available for paying the loss, one must take explicit account of which currency is used as well as the exchange rates between the various available currencies