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The thesis of this paper is that Keynes wrote A Treatise on Probability contrasting his view to the frequentist theory, systematised by John Venn, which denied to probability any sort of utility in decision theory. Keynes's problem was of finding an alternative theory to be utilised as a guide...
Persistent link: https://www.econbiz.de/10012773660
Keynes's initial, introductory presentation of his inexact measurement, approximation approach to interval valued probability occurred on pages 38-40 of chapter III of the A Treatise on Probability. Keynes used a simple diagram on page 38 to illustrate the non linear and non additive nature of...
Persistent link: https://www.econbiz.de/10012858777
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...
Persistent link: https://www.econbiz.de/10012860593
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...
Persistent link: https://www.econbiz.de/10012861031
The claim that Keynes's non numerical probabilities are ordinal probabilities was shown to be mathematically impossible by Keynes in chapter 15 of the A Treatise on Probability on pp.162-163 and in chapter 17 on pp.186-194.Keynes's non numerical probabilities are identical to Boole's constituent...
Persistent link: https://www.econbiz.de/10012862430
Nearly one hundred years after Keynes published his A Treatise on Probability in 1921,it appears that practically no philosophers have read Part II of the A Treatise on Probability in either the 20th or 21st centuries. This simply means that no modern day philosopher is in any position to...
Persistent link: https://www.econbiz.de/10012842021