A REJOINDER TO CROVELLI’S “THE COURTIERS OF CONFUSION”
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Unión Editorial; Universidad Rey Juan Carlos de Madrid
Abstract
This paper is a response to Crovelli’s rejoinder to our original critique
of his objection to Ludwig von Mises’ supposedly misguided adoption of frequentism.
First, we demonstrate the unimportance of Crovelli’s favoured distinction
between the probability and method for generating probabilities. Further
on, we show that on some reading of “subjectivism” his claim that determinism
necessitates embracing the subjective definition of probability is simply trivial.
After clearing up these misconceptions, we state what we believe are two real
points of disagreements between us and Crovelli. Specifically, we argue — contra
Crovelli — that (1) determinism does not require construing probabilities as
degrees of beliefs and that (2) frequentism is compatible with both the deterministic
and the indeterministic worldview. Finally, we enumerate some additional
challenges Crovelli left unaddressed and which, we believe, his theory would
be powerless to address in any case.
Description
This research was funded in whole or in part by the National Science Centre,
Poland, grant number 2020/39/B/HS5/00610. For the purpose of Open Access, the
author has applied a CC-BY public copyright licence to any Author Accepted Manuscript
(AAM) version arising from this submission.
Keywords
probability, Austrian economics, subjectivism, determinism, frequentism
Citation
Revista Procesos de Mercado vol. vol. 19 (2), 2022, pp. 373-388.
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Except where otherwised noted, this item's license is described as Attribution 3.0 Poland