On the existence of the true value of a probability. Part 2: The representation theorem and the ergodic theory
AbstractSome authors, basing their ideas on the exchangeability property, on the postulates of the representation theorem and on its interpretation in the ambit of ergodic theory, believed to find a counterexample to the subjectivist model through the theoretical justification of the existence of an objective probability. As a proof of the inconsistency of this reasoning, the representation theorem allows to assert that the convergence of the relative frequency on a “true value” of the probability is only a metaphysical illusion motivated by an asymptotic behaviour of the personal assessments of initial probabilities, leading to intersubjective assignment. With regard to the ergodic theory, its assimilation to the propensity model allows the demonstration of its metaphysical character and the resulting subjectivity in the assignment f probabilities.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Universidad del CEMA in its series CEMA Working Papers: Serie Documentos de Trabajo. with number 458.
Length: 34 pages
Date of creation: Jul 2011
Date of revision:
Contact details of provider:
Postal: Av. Córdoba 374, (C1054AAP) Capital Federal
Phone: (5411) 6314-3000
Fax: (5411) 4314-1654
Web page: http://www.cema.edu.ar/publicaciones/doc_trabajo.html
More information through EDIRC
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-01 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Albert, Max, 1999. "Bayesian learning when chaos looms large," Economics Letters, Elsevier, vol. 65(1), pages 1-7, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Valeria Dowding).
If references are entirely missing, you can add them using this form.