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Given B. De Finetti’s Conclusion that 'Probability (Objective) Does not Exist', Then Rational Expectations Does not Exist Either
Brady, Michael Emmett - 2018
existing theory of probability that supports the claims made by rational expectationists. There is no right(wrong), correct … theory of probability. Likewise, all objective theories of probability deny the existence of subjective probability …
Persistent link: https://www.econbiz.de/10012908227
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Rational Expectations Has No Foundation in Any Coherent, Existing Theory of Probability
Brady, Michael Emmett - 2018
The theory of rational expectations has no foundation in any extant theory of probability. None of the five existing …
Persistent link: https://www.econbiz.de/10012910371
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What Caused Harrod to Completely Capitulate to Keynes in His Letter of August 30, 1935? The Answer Can Be Found in Keynes’s Letter to Harrod of August 27, 1935, Where Keynes Demons...
Brady, Michael Emmett - 2018
acknowledge that Keynes had made a “radical reconstruction” of the theory of the rate of interest. Special significance can be … given to Keynes's three point post script in which Keynes demonstrated that the classical theory of the rate of interest had … a radical reconstruction of the theory of the rate of interest in his letter of August 30, 1935.The result was that …
Persistent link: https://www.econbiz.de/10012911516
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Rational Expectations Theorists Rely Completely on the Fallacy of Conditional Apriorism (Long Runism), First Introduced by Charles Sanders Pierce and Hans Reichenbach in Their Obje...
Brady, Michael Emmett - 2019
All Rational Expectation Theorists rely on the Fallacy of Conditional Apriorism (Long Runism)in order to operationalize the Objective Limiting Frequency Interpretation of Probability. However, such a limit only occurs in the far distant long run as the number of observations from Time Series...
Persistent link: https://www.econbiz.de/10012893664
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J M Keynes's Main Argument in the General Theory Is Not Expressed in Terms of His Aggregate Demand (D) and Aggregate Supply (Z) Model. Keynes's D-Z Analysis Supports a Specific Y=C...
Brady, Michael Emmett - 2017
Keynes's Theory of Effect ... …
Persistent link: https://www.econbiz.de/10012944203
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The Fundamental Error of Rational Expectations Proponents Is Their Claim that They Have Discovered True Statistical Models : Given that No Model Can Be True, Talk of Having a 'True...
Brady, Michael Emmett - 2020
are useful.'Rational expectations advocates violate basic scientific approaches to theory construction and model use when …
Persistent link: https://www.econbiz.de/10012825898