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#Logical probability is an attempt to extend formal logic with truth values intermediate to the conventional end points of false (zero probability) and true (unit probability). This interpretation has been favored by economists like [|John Maynard Keynes], [|Frank Plumpton Ramsey], and B. O. Koopman. In essence, they advocated use of the concept of ''expected rational utility]] to develop an operational definition of the probability of any proposition. |
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#Logical probability is an attempt to extend formal logic with truth values intermediate to the conventional end points of false (zero probability) and true (unit probability). This interpretation has been favored by economists like [|John Maynard Keynes], [|Frank Plumpton Ramsey], and B. O. Koopman. In essence, they advocated use of the concept of expected rational utility to develop an operational definition of the probability of any proposition. |
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An eclectic school has developed which attempts to defuse the debate by focusing on the axioms of mathematical probability as the only criterion as to whether an interpretation is valid and/or valuable. |
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An eclectic school has developed which attempts to defuse the debate by focusing on the axioms of mathematical probability as the criterion as to whether an interpretation is valid and/or valuable. |
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