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Logic, rationality and knowledge in Ramsey's thought: reassessing 'human logic'

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  • Marion Gaspard

Abstract

This paper reconsiders Frank Ramsey's essay on subjective probability (1926) as a consistent way to articulate logic, rationality and knowledge. The first part of the essay builds an axiomatic theory of subjective probability based on 'formal logic', defining rationality as choice-consistency. The second part seems to open up different horizons: the evaluation of degrees of belief by 'human logic'. Because of the interest Keynes (1931) had taken in 'human logic', it was considered to be a possible alternative to the formal logic underlying the neoclassical theory of individual behaviour. The analysis of Ramsey's method in the entire paper, the relation between logic and rationality it constructs and the conception of uncertainty it reveals, lead me to note on the contrary that Ramsey's human logic was a complementary logic rather than an alternative to formal logic. Defining a standard to evaluate beliefs formation according to a frequentist criterion, it completes a normative representation of rationality which supports an original theory of knowledge that appears more in line with further developments of neoclassical methodology than with Keynesian economics.

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  • Marion Gaspard, 2014. "Logic, rationality and knowledge in Ramsey's thought: reassessing 'human logic'," Journal of Economic Methodology, Taylor & Francis Journals, vol. 21(2), pages 139-157, June.
    • Handle: RePEc:taf:jecmet:v:21:y:2014:i:2:p:139-157
    DOI: 10.1080/1350178X.2014.907441
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    Cited by:

    1. Marion Gaspard & Antoine Missemer, 2019. "An inquiry into the Ramsey-Hotelling connection," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 26(2), pages 352-379, March.
    2. Gaspard, Marion, 2021. "Review of “Frank Ramsey: A Sheer Excess of Powers” by Cheryl Misak," OSF Preprints gy836, Center for Open Science.

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