Question: When we assess our subjective probabilities, we are building a model of the uncertainty we face. If we face a range-of-risk problem, and we begin

When we assess our subjective probabilities, we are building a model of the uncertainty we face. If we face a range-of-risk problem, and we begin to assess a continuous distribution subjectively, then clearly it is possible to perform many assessments, which would make the sketched CDF smoother and smoother. How do we know when to stop making assessments and when to keep going? When is the model of our uncertainty adequate for solving the problem, and when is it inadequate?

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