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Indeterminate Probabilities and Smithian and Keynesian Uncertainty
Brady, Michael Emmett - 2014
Smith, Keynes, and Knight, in that order, made seminal contributions to decision making which emphasized uncertainty … and indeterminate probabilities, as opposed to mere imprecision. De Finetti’s views on uncertainty are diametrically …
Persistent link: https://www.econbiz.de/10014142839
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Keynes’s Canonical Statements on Uncertainty Appear in his 1921 a Treatise on Probability in Chapter 26 on Pages 309-312 : Statements about Uncertainty in the General Theory in 193...
Brady, Michael Emmett - 2019
Probability, the General Theory,and the 1937 Quarterly Journal of Economics, reveal that Keynes’s discussions about uncertainty in … the General Theory, and the 1937 Quarterly Journal of Economics article are simply small ,minor footnotes to the A … mention or make any reference to the 1937 Quarterly Journal of Economics article, which Joan Robinson, G L S Shackle, Paul …
Persistent link: https://www.econbiz.de/10014104170
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What J. Viner (and Everyone Else) Overlooked in His 1936 and 1964 Reviews Concerning Keynes's Liquidity Preference Analysis in the General Theory and the 1937 Quarterly Journal of ...
Brady, Michael Emmett - 2017
J. Viner, as well as all other economists who have written on Keynes's analysis of the rate of interest in the General Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where Keynes clearly and carefully derived and identified...
Persistent link: https://www.econbiz.de/10012953043
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Kahn’s Mathematical Style, in His June, 1931 Multiplier Article in the Economic Journal, Is Identical to Keynes’ Style of Presenting Mathematical Results Starting in 1921 in the A...
Brady, Michael Emmett - 2018
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
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J. Hicks's 'Famous' IS-LM Figures 1 and 2 on Page 153 of His 1937 Econometrica Paper are Based Directly on Page 207 of the General Theory
Brady, Michael Emmett - 2017
Hicks's 1937 interpretation of Keynes's 1936 General Theory IS-LP(LM) model, which was analyzed in (r,Y) space by Keynes, in which Hicks used his IS-LL model in (Y,r) space, where we use Keynes's Y for income and not Hicks's I for income, supposedly generated much more interest and following...
Persistent link: https://www.econbiz.de/10012946161
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R. B Braithwaite’s Editorial Foreword to the 1973 Collected Writings of John Maynard Keynes Edition of Keynes’s a Treatise on Probability Is ‘…Very Puzzling, indeed.’ (Skidelsky, 1...
Brady, Michael Emmett - 2020
approach to deal with uncertainty.In fact, Braithwaite never read the A Treatise on Probability, as we will demonstrate using …
Persistent link: https://www.econbiz.de/10012825285
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An Examination of the Many Severe Errors Made by Richard Braithwaite in His Editorial Foreword to Volume 8 of the a Treatise on Probability in the Collected Writings of John Maynar...
Brady, Michael Emmett - 2017
, demonstrating that Keynes's theory was interval valued and specifically designed to deal with uncertainty, brought on by missing …
Persistent link: https://www.econbiz.de/10012968302
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Keynes and Samuelson Combined Provided the Complete Foundation for a Science of Macroeconomics : Complexity Modeling Is Welcome, But Not Necessary, for a Scientific Foundation for...
Brady, Michael Emmett - 2018
multiple equilibria and degrees of uncertainty, based on his analysis of interval valued probability and weight of the evidence …
Persistent link: https://www.econbiz.de/10012920191