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On the Shocking Ignorance of Economists of G. Boole’s Logical Theory of Probability in His 1854 the Laws of Thought : Keynes’s Logical Theory of Probability in the 1921 a Treatise...
Brady, Michael Emmett - 2020
Keynes's logical theory of probability was NOT the first explicit and detailed approach to logical probability. George …'s own logical theory was built on both the work of Boole and the work of William E. Johnson. This paper will deal with the … built his logical theory of probability and who were the scholars whom Keynes built his approach to logical probability on …
Persistent link: https://www.econbiz.de/10012845317
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Keynes Demonstrated in Chapter 15 of the A Treatise on Probability That His Non Numerical Probabilities Are Identical to Boole’s Constituent Probabilities : It Is Mathematically Im...
Brady, Michael Emmett - 2019
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
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J M Keynes’s 1931 Comment, “…I Yield to Ramsey, I Think He Is Right” Refers to Ramsey’s Work on Precise Probability and Degrees of Belief, Not to Imprecise Probability and Degrees...
Brady, Michael Emmett - 2020
’s logical theory of probability is an imprecise theory of non additive probability based on intervals and dealing with rational … degrees of belief, whereas Ramsey’s theory is a precise theory of additive probability that deals with degrees of belief only …
Persistent link: https://www.econbiz.de/10014091376
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One Hundred Years After Keynes Published His 'A Treatise on Probability' in 1921, Edgeworth’s Two Reviews Still Stand Out As Being Vastly Superior to the Assessments Made by Any Ot...
Brady, Michael Emmett - 2020
F. Y. Edgeworth made the only correct assessment of Keynes’s Logical Theory of Probability in his A Treatise on …’s claim, that he was the first to have put forth a detailed interval valued approach for a logical theory of probability, is …
Persistent link: https://www.econbiz.de/10014093471
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On the Impossibility That Any Academic Will Ever Understand Keynes’s 1931 Assessment of Ramsey’s Work in Probability, When Compared to His Own, Until Part II of the A Treatise on P...
Brady, Michael Emmett - 2020
By the time that Keynes’s logical theory of probability appeared in 1921 in his A Treatise on Probability (1921 …). Keynes was a millionaire by 1922. Keynes’s theory is an interval valued approach that can be applied in situations that …, w, is equal to, approaches, or is close to 1, 0≤w≤1, then Keynes’s theory reduces to the use of precise, exact …
Persistent link: https://www.econbiz.de/10014095758
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On Misak’s 2020 Story about Ramsey, Keynes,and Logical Probability : Keynes Never Took Ramsey’s Claims Seriously at Anytime in His Lifetime
Brady, Michael Emmett - 2020
A myth has been in existence since 1922 about Keynes, Ramsey and the logical theory of probability that Keynes … probabilities that could only be intuited. Keynes supposedly, according to this myth, instantly realized that his theory had been … decimated, annihilated and demolished by the 18 year old boy genius, Frank Ramsey. Keynes then supposedly retracted his theory …
Persistent link: https://www.econbiz.de/10014096035
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Confirming Robinson's Statement? A Lakatosian Analysis of Keynes and his Immediate Orthodoxy
2013
), a Lakatosian concept, of Keynes in The General Theory of Employment, Interest and Money (TGT) with those of its … – (RE) and General Disequilibrium (GD). The objective is to to assess the immediate impact of Keynes's vision in economics …, Keynes's economics is different from Keynesian economics as was firstly proposed by Axel Leijonhuvfud (Leijonhuvfud, 1968 …
Persistent link: https://www.econbiz.de/10013084582
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Applicability of Keynesian Ideology in the Zimbabwe's Economic Growth Path
Bonga, Wellington Garikai - 2014
Economic development disparities are caused mainly by unjustified biased policies and not in actual fact biased policies. Balanced policies are often recommended for balanced growth of all economic sectors. However, through sector linkages, and due to lack of funding in many developing nations,...
Persistent link: https://www.econbiz.de/10013045453
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What J. Viner (and Everyone Else) Overlooked in His 1936 and 1964 Reviews Concerning Keynes's Liquidity Preference Analysis in the General Theory and the 1937 Quarterly Journal of ...
Brady, Michael Emmett - 2017
Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where … effective rate of interest, r1 or r2? Of course, the answer is that the neoclassical theory is unable to pick out either r1 or r …2 . The answer is indeterminate because the neoclassical theory is “… one equation short of what is required to give a …
Persistent link: https://www.econbiz.de/10012953043