Lexicographic probability, conditional probability, and nonstandard probability
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Abstract: The relationship between Popper spaces (conditional probability spaces that satisfy some regularity conditions), lexicographic probability systems (LPS's), and nonstandard probability spaces (NPS's) is considered. If countable additivity is assumed, Popper spaces and a subclass of LPS's are equivalent; without the assumption of countable additivity, the equivalence no longer holds. If the state space is finite, LPS's are equivalent to NPS's. However, if the state space is infinite, NPS's are shown to be more general than LPS's.
The author explores the relationship between Popper spaces, lexicographic probability systems (LPS) and nonstandard probability spaces (NPS). A Popper space is a conditional probability space that satisfies some specific requirements. An LPS of length \(\alpha\) is a measurable space with a sequence of finitely additive probability measures indexed by ordinals less than \(\alpha\). An NPS is a probability space where the probability measure takes value in a non-Archimedean field. If countable additivity is assumed, Popper spaces and a subclass of LPS's are equivalent. If the state space is finite, LPS's are equivalent to NPS's. If the state space is infinite, NPS's are more general than LPS's.
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