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Sraffa made a number of margin notes in chapter 17 in his copy of the General Theory .Contrary to Joan Robinson’s 1978 … claim ,that Sraffa had uncovered logical and mathematical errors in Keynes’s liquidity preference theory of the rate of … interest when he generalized his theory in chapter 17,the margin notes made by Sraffa are all erroneous .Sraffa’s margin notes …
Persistent link: https://www.econbiz.de/10013239107
, who are considered to be the top Heterodox experts on Keynes's A Treatise on Probability, logical theory of probability …, and of the connections between the A Treatise on Probability and Keynes's General Theory. The exchanges between Sheila Dow …
Persistent link: https://www.econbiz.de/10012824402
The SIPTA (Society for Imprecise Probability,Theory and Application) view of Keynes's contributions to imprecise … mathematical contributions made to the theory of imprecise probability by Keynes, such as upper and lower probabilities, non … in his analysis of uncertainty in his theory of the liquidity preference approach to the rate of interest in the General …
Persistent link: https://www.econbiz.de/10012825120
-Townshend correspondence in 1937 – 1938 over the connections between the A Treatise on Probability and the General Theory, as …'s critique in his lifetime and continued to use his own logical theory of imprecise probability .Ramsey's subjective theory of … probability is a theory of precise probability that can't deal with overlapping evidence or conflicting evidence.Of course, Keynes …
Persistent link: https://www.econbiz.de/10012825560
Keynes’s theory is based on propositions, imprecise, Inexact, interval valued probability (or decision weights that are non …-additive), and deals with degrees of rational belief while Ramsey’s theory is based on actual events or outcomes, is precise and … preferences are linear.L J Savage’s important restriction, ignored by most all economists ,that his subjective theory of …
Persistent link: https://www.econbiz.de/10013241913
Keynes had successfully applied his theory of logical, imprecise probability in his Indian Currency and Finance(1913 … clearly shown by Keynes to be an interval valued theory of probability of upper and lower bounds. In January, 1922,an 18 year … probability with better epistemological foundations, while his theory was about inexact, imprecise, non additive interval valued …
Persistent link: https://www.econbiz.de/10013243909
philosophy, when it comes to the question of understanding the meaning of Keynes ‘s logical theory of probability and his concept …
Persistent link: https://www.econbiz.de/10012830367
Finance through the General Theory in 1936, always used his A Treatise on Probability method and methodology of inexact …,Keynes emphasizes that Townshend was correct in his conclusion that the entire concept of the liquidity preference theory of the rate of … and 240 of the General Theory. Of course, it is on these two pages that Keynes's makes the connection between uncertainty …
Persistent link: https://www.econbiz.de/10012832552