Economy, probability and risk
The science of probabilities has earned a special place because it tried through its concepts to build a bridge between theory and experimenting.As a formal notion which by definition does not lead to polemic, probability, nevertheless, meets a series of difficulties of interpretation whenever the probability must be applied to certain particular situations.Usually, the economic literature brings into discussion two interpretations of the concept of probability:the objective interpretation often found under the name of frequency or statistical interpretation and the subjective or personal interpretation. Surprisingly, the third appproach is excluded:the logical interpretation.The purpose of the present paper is to study some aspects of the subjective and logical interpretation of the probability, as well as the implications in the economics.
Volume (Year): 5 (2007)
Issue (Month): 1 (May)
|Contact details of provider:|| Postal: Elisabeta Queen no. 4-12, Bucharest|
Web page: http://www.faa.ro
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:but:manage:v:5:y:2007:i:1:p:14-26. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cosmin Catalin Olteanu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.