generally guided by call-put option pricing models - which rely on an ergodic notion of probability that conforms to a normal … distribution function. This paper considers critiques of the above models, which include Keynes's Treatise on Probability (1921 …) and the General Theory (1936), as well as follow-ups in the post-Keynesian approaches and others dealing with "fundamental …

We compare preferences for temporal resolution when uncertainty is resolved over a probability rather than a value. In … whether values or probabilities define the main object of uncertainty. In our experiment, however, most subjects resolved …