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.

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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