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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
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
misinterpreted and misrepresented Keynes's introductory analysis on interval valued probability as an ordinal theory of probability ….The result of this misinterpretation and misrepresentation of Keynes's decision theory can be seen in the response of public …
Persistent link: https://www.econbiz.de/10012858777
Theory by way of his definition of uncertainty on p.148 in chapter 12 of the General Theory, with the “Heuristics and Biases … (errors)” approach of Kahneman and Tversky. Uncertainty was defined in the General Theory as an inverse function of the weight … Theory are automatically intervals except in the very extreme cases of no uncertainty (Modern Bayesian, Subjectivist …
Persistent link: https://www.econbiz.de/10012950042
the imprecise theory of probability long before Koopman's work in 1940 or the work of I. J. Good, C. Smith ,or H.E. Kyburg …
Persistent link: https://www.econbiz.de/10012842021
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