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The Impact that Ramsey's Overlooking of Keynes's Non Additive, Interval Valued Probability Approach in His Reviews of the a Treatise on Probability Has Had on Philosophers and Econ...
Brady, Michael Emmett - 2018
handles ordinal probability, the theory of the Treatise on Probability is that of “Approximation,” which is interval valued …
Persistent link: https://www.econbiz.de/10012923787
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How Confusing Keynes's Normative Decision Theory in the a Treatise on Probability and General Theory with Kahneman and Tversky's 'Heuristics and Biases (Errors)', Descriptive Theor...
Brady, Michael Emmett - 2017
Theory by way of his definition of uncertainty on p.148 in chapter 12 of the General Theory, with the “Heuristics and Biases … (errors)” approach of Kahneman and Tversky. Uncertainty was defined in the General Theory as an inverse function of the weight … Theory are automatically intervals except in the very extreme cases of no uncertainty (Modern Bayesian, Subjectivist …
Persistent link: https://www.econbiz.de/10012950042
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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 … probability, weight,and his liquidity preference theory of the rate of interest on pages 148 and 240 of the General Theory. There …
Persistent link: https://www.econbiz.de/10014104170
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On the Very Severe Logical, Epistemological, Methodological and Philosophical Deficiencies in J. Muth’s Concept of Rational Expectations
Brady, Michael Emmett - 2018
subjective theory of probability entails and is based on, or what an objective theory of probability entails and is based on … application of the theory of probability to conduct from either a subjectivist theory of probability perspective (Ramsey, de … Finetti, Savage) or an objectivist theory of probability perspective (Venn, R. von Mises, H. Reichenbach, K Popper) in history …
Persistent link: https://www.econbiz.de/10012909620
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Adam Smith on the Main Cause of Recessions and Depressions : Bubbles Resulting From Bank Loans and Credit Made Available to Projectors, Imprudent Risk Takers and Prodigals
Brady, Michael Emmett - 2018
types of individual were described by Keynes as Wall Street speculators and rentiers in the General Theory. Marx used the …
Persistent link: https://www.econbiz.de/10012925953