In this compelling book, John B. Davis examines the change and development in Keynes's philosophical thinking, from his earliest work through to The General Theory, arguing that Keynes came to believe himself mistaken about a number of his early philosophical concepts. The author begins by looking at the unpublished 'Apostles' papers, written under the influence of the philosopher G. E. Moore. These display the tensions in Keynes's early philosophical views, and outline his philosophical concepts of the time, including the concept (...) of intuition. Davis then shows how Keynes's later philosophy is implicit in the economic argument of The General Theory. He argues that Keynes's philosophy had by this time changed radically, and that he had abandoned the concept of intuition for the concept of convention. The author sees this as being the central idea in The General Theory, and looks at the philosophical nature of this concept of convention in detail. (shrink)

APA PsycNET abstract: This is the first volume of a two-volume work on Probability and Induction. Because the writer holds that probability logic is identical with inductive logic, this work is devoted to philosophical problems concerning the nature of probability and inductive reasoning. The author rejects a statistical frequency basis for probability in favor of a logical relation between two statements or propositions. Probability "is the degree of confirmation of a hypothesis (or conclusion) on the basis of some given evidence (...) (or premises)." Furthermore, all principles and theorems of inductive logic are analytic, and the entire system is to be constructed by means of symbolic logic and semantic methods. This means that the author confines himself to the formalistic procedures of word and symbol systems. The resulting sentence or language structures are presumed to separate off logic from all subjectivist or psychological elements. Despite the abstractionism, the claim is made that if an inductive probability system of logic can be constructed it will have its practical application in mathematical statistics, and in various sciences. 16-page bibliography. (PsycINFO Database Record (c) 2016 APA, all rights reserved). (shrink)

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)

It is most illuminating when we are standing right back, so that even the monetary system itself is allowed to vary. When we stand back, not limiting ...

Although Considered By A Few Critics That The Sentence Structures Of The Book Are Quite Incomprehensible And Almost Unbearable To Read, The Book Is An Essential ...

This major work challenges some widely held positions in epistemology - those of Peirce and Popper on the one hand and those of Quine and Kuhn on the other.

An examination of topics involved in statistical reasoning with imprecise probabilities. The book discusses assessment and elicitation, extensions, envelopes and decisions, the importance of imprecision, conditional previsions and coherent statistical models.

Degrees of belief; Dempster's rule of combination; Simple and separable support functions; The weights of evidence; Compatible frames of discernment; Support functions; The discernment of evidence; Quasi support functions; Consonance; Statistical evidence; The dual nature of probable reasoning.

The Claims of Common Sense investigates the importance of ideas developed by Cambridge philosophers between the World Wars for the social sciences concerning common sense, vague concepts and ordinary language. John Coates examines the thought of Moore, Ramsey, Wittgenstein and Keynes, and traces their common drift away from early beliefs about the need for precise concepts and a canonical notation in analysis. He argues that Keynes borrowed from Wittgenstein and Ramsey their reappraisal of vague concepts, and developed the novel argument (...) that when analysing something as complex as social reality, theory might be simplified by using concepts which lack sharp boundaries. Coates then contrasts this conclusion with the view shared by two contemporary philosophical paradigms - formal semantics and Continental post-structuralism - that the vagueness of ordinary language inevitably leads to interpretive indeterminacy. Developing a link between Cambridge philosophy and work on complexity, vague predicates and fuzzy logic, he argues that Wittgenstein's and Keynes's ideas on the economy of ordinary language present a mediating route for the social sciences between these philosophical paradigms. (shrink)

Builds on classical probability theory and offers an extremely workable solution to the many problems of artificial intelligence, concentrating on the rapidly growing areas of fuzzy reasoning and neural computing. Contains a collection of previously unpublished articles by leading researchers in the field.

Places Keynes's concern with probability and uncertainty in full historical context.