This note argues that a representation of the epistemic state of the individual through a non-additive measure provides a novel account of Keynes’s view of probability theory proposed in his Treatise on Probability. The paper shows, first, that Keynes’s “non-numerical probabilities” can...

A by-product of the recent financial crisis has been the renewed interest in Keynes's works. Both in the press and in scientific journals, a crowd of commentators has emphasised the need to scrutinise the General Theory in order to gain a better understanding of the actual macro-dynamics of the...