Showing 1 - 10 of 290
Keynes's 1931 acknowledgement, that Ramsey's theory of subjective degree of belief, based on numerically precise …'s theory did not deal with Keynes's rational degrees of belief, P(a/h)=α,where 0≤α≤1. Only in the special case where w=1 does …
Persistent link: https://www.econbiz.de/10012864215
decision theory, reveal an astounding lack of knowledge and understanding regarding the makeup of Keynes's logical theory of … skipped or skimmed over, as was done by F P Ramsey in his reviews of 1922 and 1926.Keynes's logical theory of probability is … based on the upper–lower probability approach of George Boole. Boole is the explicit founder of the logical theory of …
Persistent link: https://www.econbiz.de/10012866735
Economists who analyzed Keynes's Diagram on page 180 of the General Theory erred by (a) reading only the first one … Theory demonstrated, the main model of the GT is Keynes's version of IS - (LP) LM. The Theory of Effective Demand, based on … the D-Z model of Chapters 20 and 21, supports Keynes's IS - LM.Keynes never expected the economics profession to accept …
Persistent link: https://www.econbiz.de/10012950893
Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where … effective rate of interest, r1 or r2? Of course, the answer is that the neoclassical theory is unable to pick out either r1 or r …2 . The answer is indeterminate because the neoclassical theory is “… one equation short of what is required to give a …
Persistent link: https://www.econbiz.de/10012953043
Edgeworth's two reviews of the A Treatise on Probability, in Mind and The Journal of the Royal Statistical Society, demonstrated an understanding of many of the topics of Keynes' approach that was not achieved by any other reviewer, including the reviews made by B. Russell and C. D....
Persistent link: https://www.econbiz.de/10012989950
The manner in which R. Kahn presented his mathematical results on the multiplier in the Economic Journal of June, 1931, is identical to the style of presenting mathematical results used by Keynes to present his mathematical analysis starting with the A Treatise on Probability in 1921. Keynes's...
Persistent link: https://www.econbiz.de/10012907803