Adam Smith was the first economist or mathematician in history to present an explicit, detailed, interval estimate approach to probability in an application involving the economic analysis of occupational choice.In general, the expected value and/or expected utility (subjective expected utility)...

J M Keynes's method was explicitly introduced and used in the A Treatise on Probability in Parts II, III and V. Keynes's method is an inductive logic built on the mathematical logic and algebra of George Boole. Boole introduced non linearity and non additivity into his approach using interval...

Paul Davidson's technical understanding of the mathematical details of the Limiting Frequency theory of probability and Kolmogorov's measure theoretic extension from additivity to countable additivity, which allows for an extension of the concept of the Law of Large Numbers to the concept or...