Scientific reasoning is—and ought to be—conducted in accordance with the axioms of probability. This Bayesian view—so called because of the central role it accords to a theorem first proved by Thomas Bayes in the late eighteenth ...

Ramsey's critique of Keynes's ‘logical’ approach to probability is widely regarded as decisive, and his own ‘subjective’ approach and SEU framework are now familiar tools in economics. This paper challenges the standard view of Ramsey's critique and assesses the SEU model from a Keynesian viewpoint on probability. It consists of a summary of the two theories and an evaluation of Ramsey's criticisms and alternative. The two main conclusions are that although Keynes yields to Ramsey on the question of the existence (...) of logical probability relations, the formal structure of his theory is compatible with non-objectivist interpretations of probability; and that Ramsey makes far heavier demands on the capacities of the ‘rational agent’ than does Keynes. (shrink)

R.I.G Hughes offers the first detailed and accessible analysis of the Hilbert-space models used in quantum theory and explains why they are so successful.

The basic theme of Popper's philosophy--that something can come from nothing--is related to the present situation in physical theory. Popper carries his investigation right to the center of current debate in quantum physics. He proposes an interpretation of physics--and indeed an entire cosmology--which is realist, conjectural, deductivist and objectivist, anti-positivist, and anti-instrumentalist. He stresses understanding, reminding us that our ignorance grows faster than our conjectural knowledge.