Frank P Ramsey did not consider the possibility of representing the concept of probability by an interval valued approach in his lifetime. Ramsey considered probability to be either ordinal or numerical. There was absolutely no room for interval estimates and interval probability in his...

The Townshend–Keynes exchanges over decision making, weight of the argument (evidence), non numerical probabilities (Keynes’s term for Boole’s constituent probabilities, used in The Laws of Thought in 1854, that appears on page 163 of the A Treatise on Probability in chapter 15 on inexact...

Starting with J. Muth’s unsupported and unsupportable claims, originally made in 1961, that “rational expectations” were subjective probability distributions that were distributed around a known, true, objective probability distribution, various economists have provided the same type of...

The operational definitions of uncertainty used by John M. Keynes and Frank H. Knight are based on missing information that will not be available to the decision maker at any time. The founder of this approach is George Boole. This leads to indeterminate interval probabilities. The definition of...

J M Keynes rejected Ramsey's subjective theory of probability in general. He did accept Ramsey's betting quotient approach in the special case where the weight of the evidence, w, equaled one so that all the probabilities were linear, additive, precise, exact, definite, single number answers. In...

It is a straight forward exercise to demonstrate that the concept of the weight of the evidence in the A Treatise on Probability and the concept of uncertainty in the General Theory both follow directly from Keynes's analysis and application of Boole's development of the concept of upper and...

Historical, as well as practically all current, assessments of J M Keynes's A Treatise on Probability suffer immensely due to the failure of the readers of that book to cover Part II of the Treatise. As acknowledged by Emile Borel in his 1924 review of the A Treatise on Probability, this part of...

Economists, working in the Heterodox schools of economics, have severely confused Keynes's interval valued probability–weight of the evidence approach to decision making from the A Treatise on Probability, that Keynes integrated into the General Theory by way of his definition of uncertainty...