Eight centuries ago, Thomas Aquinas clearly differentiated between probability and uncertainty in decision making. He … the just price was likely to be inaccurate, due to missing or incomplete information so that the best one could do in a … possibly upper bounds) bound on the part of the buyer, where it was likely that the just price would lie, after a process of …

–weight of the evidence approach to decision making from the A Treatise on Probability, that Keynes integrated into the General … theorist like Keynes, is that decision makers are horribly ignorant of the laws of the probability calculus when making … decisions and thus make all kinds of errors and mistakes that could be corrected if the decision makers would restudy basic …

The differences between Knight's approach in Risk, Uncertainty and Profit (1921) and Keynes's logical theory of … evidence would not be sufficient to lead to a precise probability by the time a decision had to be made. It is impossible to …

]), this paper also revisits and broadens aspects of asset price trend theory's (APTT) decision-making premise, provides …In finance, decision making and choice requires that we assume that asset prices tend to trend. This assumption also … the constraint that assets be fully and continuously invested is inconsistent with basic decision theory, as it disallows …

that all probability preferences were linear. The whole is nothing more than the individual sum of each part. The third … axiom was that all the relevant information, data, evidence or knowledge base is complete, so that individual decision … asserted that all rational decision makers would be able to actually maximize utility and returns as long as government would …

probability, although Keynes's theory of probability can easily deal with ordinal probability with the aid of Keynes's principle … additive interval estimate of probability or by a decision weight, like Keynes's original, path breaking innovation of his …