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De Finetti-Savage's and Keynes-Knight's approaches to probability and uncertainty : a rejoinder to Feduzi, Runde and Zappia
Arthmar, Rogério; Brady, Michael Emmett - In: History of economic ideas : HEI 25 (2017) 1, pp. 225-233
Persistent link: https://www.econbiz.de/10012127532
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Adam Smith's theory of probability and the roles of risk and uncertainty in economic decision making
Brady, Michael Emmett - In: International journal of applied economics and … 23 (2015) 1, pp. 17-34
Persistent link: https://www.econbiz.de/10010510805
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A comparison, contrast of Adam Smith, J. M. Keynes and Jeremy Bentham on probability, risk, uncertainty, optimism-pessimism and decision making with applications concerning banking...
Brady, Michael Emmett - In: International journal of applied economics and … 19 (2011) 4, pp. 86-111
Persistent link: https://www.econbiz.de/10009530476
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How Should the Post Keynesian School Define ‘Uncertainty’? 1 The Only Correct Answer Is to Use Keynes’s Own Definition Given in Footnote 1 on Page 148 of Chapter 12 of the General ...
Brady, Michael Emmett - 2019
definition of uncertainty given by Keynes in footnote 1 on page 148 of the General Theory that was repeated on page 240 of the … General Theory.The footnotes on page 148 and 240 of the General Theory are the foundation for Townshend's summary of the 1937 … evidence (argument) from the A Treatise on Probability were the foundation for Keynes's liquidity preference theory of the rate …
Persistent link: https://www.econbiz.de/10012864576
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Keynesian Uncertainty Can Only Be Represented by Imprecise, Non Additive, Interval Valued Probability or Decision Weights Like Keynes’s C : Ordinal Probability Can’t Represent Keyn...
Brady, Michael Emmett - 2020
probability, although Keynes's theory of probability can easily deal with ordinal probability with the aid of Keynes's principle …
Persistent link: https://www.econbiz.de/10012843351
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The Roles of Keynes’s Logical Relations, V(a/h) =w and P(a/h) =alpha, in His Conventional Coefficient of Weight and Risk, C
Brady, Michael Emmett - 2018
Persistent link: https://www.econbiz.de/10012921211
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W. Grampp's 'What Did Smith Mean by the Invisible Hand?' Overlooks Smith's Analysis of Uncertainty-Ambiguity Aversion Based on His Definition of Uncertainty in the Wealth of Nation...
Brady, Michael Emmett - 2018
Grampp, as well as all other economists who have written on Smith, overlooked Smith's original contributions to decision making under uncertainty. Grampp's main point, that “The invisible hand is not a power that makes the good of one the good of all, and it is not any of a number of other...
Persistent link: https://www.econbiz.de/10012931856