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A comparison, contrast of Adam Smith, J. M. Keynes and Jeremy Bentham on probability, risk, uncertainty, optimism-pessimism and decision making with applications concerning banking...
Brady, Michael Emmett - In: International journal of applied economics and … 19 (2011) 4, pp. 86-111
Persistent link: https://www.econbiz.de/10009530476
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Adam Smith's theory of probability and the roles of risk and uncertainty in economic decision making
Brady, Michael Emmett - In: International journal of applied economics and … 23 (2015) 1, pp. 17-34
Persistent link: https://www.econbiz.de/10010510805
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Keynesian Uncertainty Can Only Be Represented by Imprecise, Non Additive, Interval Valued Probability or Decision Weights Like Keynes’s C : Ordinal Probability Can’t Represent Keyn...
Brady, Michael Emmett - 2020
probability, although Keynes's theory of probability can easily deal with ordinal probability with the aid of Keynes's principle …
Persistent link: https://www.econbiz.de/10012843351
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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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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