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In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally...
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Keynes made it clear to Townshend in their 1937-38 exchanges that Townshend's assessment, that Keynes ‘s theory of liquidity preference in the General Theory was based on Keynes's non numerical probabilities and weight of evidence(argument)analysis from the A Treatise on Probability, was...
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the areas of application in which it can aid a decision maker. They both accept an interval approach to probability based … approach to probability. Bentham’s views on probability and decision making are directly opposed to those of Smith and Keynes …. Bentham can be regarded as the founder of the subjectivist, Bayesian approach to decision making. The modern Subjective …
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Preface -- Acknowledgements -- Introduction -- On the early reception and dissemination of Adam Smith’s economic theory in Germany – literature, representatives and the case of Georg Sartorius -- Friedrich List on Adam Smith -- Johann Friedrich Pfeiffer on Adam Smith – An Early --...
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