 A similar argument is offered by Christensen (1996), except that his depragmatized DBA further weakens the connection between degrees of belief and bets. Where Howson and Urbach specify that an agent will regard a bet as fair, Christensen assumes only that the bet is sanctioned as fair or justified by the agent’s beliefs, thus avoiding the first objection to Howson and Urbach’s treatment. He then invokes the Dutch Book theorem to argue that incoherent degrees of belief sanction as fair a set of bets that cannot be fair, and claims this reveals that incoherence is fundamentally an epistemic, and indeed a logical, defect. But his argument clearly faces the previous difficulty over the additivity axiom since, even if two bets are sanctioned individually, it does not follow that they are sanctioned jointly. In response to this problem, Christensen (2004) modified his argument by restricting the assumption about the sanctioning of bets to “simple agents” who value only money, value it linearly, etc., so that monetary payoffs function as utilities for them. He then argued that degrees of belief that violate the probability axioms in a simple agent are rationally defective because they sanction bets that would be guaranteed to lose money. From this he claimed that since it is the incoherent beliefs themselves that have been shown to be defective, such beliefs are rationally defective in all agents.