Dutch book argument

The Dutch book argument shows that if a person's beliefs or probabilities about uncertain events are inconsistent or illogical, a clever bettor can create a series of wagers that guarantee a profit regardless of the outcome. In other words, to avoid guaranteed losses, your subjective probabilities must align with the rules of probability. This connects rational belief with coherence—if your beliefs violate these rules, they open you up to predictable, risk-free exploitation. The argument highlights the importance of consistent probabilities for rational decision-making under uncertainty.