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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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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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The Economic Consequences of G L S Shackle's Ignorance of Keynes's Theory of Probability, Uncertainty, and Decision Making
Brady, Michael Emmett - 2017
Persistent link: https://www.econbiz.de/10012974099
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Adam Smith's Theory of Probability and the Roles of Risk and Uncertainty in Economic Decision Making
Brady, Michael Emmett - 2015
decision making. Adam Smith applied his approach to probability and uncertainty by analyzing the economic decisions made by …
Persistent link: https://www.econbiz.de/10014156196
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A Comparison-Contrast of Adam Smith, JM Keynes and Jeremy Bentham on Probability, Risk, Uncertainty, Optimism-Pessimism and Decision Making with Applications Concerning Banking, In...
Brady, Michael Emmett - 2012
Both Smith and Keynes have very similar conceptual approaches to what probability is, how it is used and applied and the areas of application in which it can aid a decision maker. They both accept an interval approach to probability based on inequalities and bounds versus ordinal, subjectivist...
Persistent link: https://www.econbiz.de/10014187963
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Thomas Aquinas on Decision Making Under Uncertainty, Ignorance, and Risk : The Role of Keynes's Weight of the Evidence Concept in His Approach
Brady, Michael Emmett - 2018
Eight centuries ago, Thomas Aquinas clearly differentiated between probability and uncertainty in decision making. He … uncertainty and confidence. Aquinas understood that there was much information, evidence, knowledge, or data that was missing or …
Persistent link: https://www.econbiz.de/10014115385
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The Foundation for Keynes’s Decision Theoretic Approach to Uncertainty in the General Theory (1936) and the 1937 Quarterly Journal of Economics Reply Article was Acknowledged by Ke...
Brady, Michael Emmett - 2019
fundamental (irreducible, deep, radical, genuine, etc.) uncertainty. What is mentioned explicitly by Keynes to Townshend is the … the 1937 QJE article represents a major or fundamental change in Keynes's view about uncertainty from those expressed in …
Persistent link: https://www.econbiz.de/10012862428
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How Sipta Overlooked Keynes’s Major Contributions to Imprecise Probability and Decision Making, 1999–2019
Brady, Michael Emmett - 2020
in his analysis of uncertainty in his theory of the liquidity preference approach to the rate of interest in the General … Theory, where uncertainty was defined as an inverse function of the evidential weight of the argument in footnote 1 on page …
Persistent link: https://www.econbiz.de/10012825120
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The Three Basic Axioms of the Adam Smith-John Maynard Keynes Approach to Decision Making Versus the Three Basic Axioms of Jeremy Bentham and His students (Ricardo, Say, James Mills...
Brady, Michael Emmett - 2019
that which underlies the Rational Expectations-Real Business Cycle – Dynamic Stochastic General Equilibrium approaches … that the Rational Expectations-Real Business Cycle – Dynamic Stochastic General Equilibrium approaches are all very special …
Persistent link: https://www.econbiz.de/10012895420