Probability and the concept of uncertainty in the General Theory both follow directly from Keynes's analysis and application of … Treatise on Probability.This demonstration shows that both GLS Shackle's definition of uncertainty and Paul Davidson …'s definition of uncertainty, not only have nothing to do with the work of J M Keynes, but are directly in conflict with it. Neither …

confidence. There is no uncertainty in Ramsey’s theory because all probability estimates are additive and linear.This means that … evidential weight of the evidence is complete. Sraffa accepted F P Ramsey’s subjectivist theory of probability where Ramsey … risk .However, Keynes’s analysis in chapter 17 is based on the existence of uncertainty and lack of confidence in future …