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...

Keynes's logical, objective, relation of probability, P(a/h)=α,where α is a degree of rational belief, has nothing to do with truth or falsehood. Probability is not truth. The belief that a probability, expectation or expected values can be true (false) appears to involve the same kind of...

Accurately estimating the prospective probability distribution arising from repeated events with known probabilities, such as the number of heads in ten coin flips, represents a simple aptitude necessary for explicit Bayesian updating and useful in optimal decisions in the face of future...

This paper presents mathematical formulation for the probability distribution function of asset value difference using canonical ensemble framework. For asset value significantly smaller than the total market value, the distribution is given by exponential function, which depends on market-eta...

Keynes's 1931 acknowledgement, that Ramsey's theory of subjective degree of belief, based on numerically precise probability, was acceptable to him in the special case where w=1, has been constantly misinterpreted. This misinterpretation follows from the lack of understanding of Keynes's weight...

The current paper discusses approximating a correct theory of cause and effect by minimizing distance to its associated probability measure in a space of measures in which each element is associated with a stochastic representation of a candidate theory. The discussion encourages researchers to...

Recent exchanges between two academics on the Internet ,both experts in conventional and unconventional approaches to decision theory, reveal an astounding lack of knowledge and understanding regarding the makeup of Keynes's logical theory of probability as put forth by Keynes in 1921,...

It was George Boole who published the first systematic exposition of a logical theory of probability in 1854 in The Laws of Thought. J M Keynes was the second scholar to publish a systematic, technical exposition of logical probability. This was all carefully presented by the American...