Post Positivist Probability
International Institute of Islamic Economics
December 21, 2008
Positivist philosophy provided the foundation for all social sciences as they were developed in the twentieth century. Now that positivism has been abandoned by philosophers, it is essential to replace methodology founded on positivist precepts. We show that the foundations of probability (both Bayesian and Frequentist) are wedded to positivist assumptions, which have been shown not to be workable. We suggest an alternative non-positivist foundation for probability theory, which avoids many of the problems faced by the current methodologies.
Number of Pages in PDF File: 14
Keywords: probability, foundations, Bayesian, Frequentist, positivism
JEL Classification: C19working papers series
Date posted: December 22, 2008
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