Recent exchanges between two academics on the Internet ,both experts in conventional and unconventional approaches to decision theory, reveal an astounding lack of knowledge and understanding regarding the makeup of Keynes's logical theory of probability as put forth by Keynes in 1921,...

A very, very, very severe problem has been occurring repeatedly over the last 100 years in the social sciences and philosophy, when it comes to the question of understanding the meaning of Keynes ‘s logical theory of probability and his concept of rational degrees of belief. It is the failure...

J. Muth's 1961 article on rational expectations was written without any knowledge on Muth's part about what a subjective theory of probability entails and is based on, or what an objective theory of probability entails and is based on. Muth's disbelief, that the individual, subjective...