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Frank P Ramsey’s critique of Keynes’s logical Theory of Probability, presented in 1925 and published in 1930, is so …
Persistent link: https://www.econbiz.de/10014148510
I will argue that when Keynes states that, in general, probabilities are not susceptible to numerical estimation, he is arguing that the probabilities, in general, can’t be represented by single number answers or point estimates. But they can be represented by intervals. Keynes’s general...
Persistent link: https://www.econbiz.de/10014178069
paper focuses on its relevance for decision theory. The paper places emphasis on Keynes’s introduction of the epistemic … endowed with interval-valued probabilities, Keynes's 1921 critique of contemporary frequency probability theory turns out to … be relevant also with regard to the yet to be established subjective probability theory. Although non …
Persistent link: https://www.econbiz.de/10013306260
individuals is the most relevant message conveyed by the General Theory. This paper starts off from a brief summary of Akerlof and … current proposals to amend mainstream decision theory, were already implicitly discussed by Keynes in his critique of …
Persistent link: https://www.econbiz.de/10014167980
contributions of Keynes. In particular it is argued that the systematic use of probabilistic causality in the General Theory is … deeply rooted into the theory of probabilistic causality outlined in the Treatise on Probability which is based on the …
Persistent link: https://www.econbiz.de/10014119275
the implications for probability theory of Ramsey’s criticisms of Keynes’s concepts of logical probability-relations and … Ramsey’s adoption of the logical pragmatist philosophy of C. S. Peirce from 1924 onwards with a dispositional theory of …
Persistent link: https://www.econbiz.de/10014030457
), a Lakatosian concept, of Keynes in The General Theory of Employment, Interest and Money (TGT) with those of its …
Persistent link: https://www.econbiz.de/10013084582
In 1987, Greenwald and Stiglitz accused Keynes's summary of the "General Theory" in chapter 18 of relying upon … cause and dependence used to discuss the relationships between independent and dependent variables of the "General Theory … the "General Theory." We thus characterize the latter as a vademecum to the complex economic world, the author providing …
Persistent link: https://www.econbiz.de/10013127664
the General Theory, along with the dimension of time, history and path-dependence, makes it possible to conceive Keynes …
Persistent link: https://www.econbiz.de/10013314560