Abstract: In my recent article on these pages (Crovelli 2009) I argued that members of the Austrian School of economics have adopted and defended a faulty definition...
Abstract: Both Ludwig von Mises and Richard von Mises claimed that numerical probability could not be legitimately applied to singular cases. This paper challenges this aspect of the von Mises brothers’ theory of probability. It is argued that their denial that numerical probability could be...
The problem with this assumption is that it is quite impossible to construct a scale of measurement for human preferences — both for individuals and especially for groups of individuals.