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A reformulation of the theory of marginal utility derined from the author’s inquiries twenty years ago is reproduced as a specimen of the dynamic theory advanced by him at that lime and as an introduction to the present essay. Dynamics was associated by the author with an individual’ s imperfect knowledge and not with variations. Statics was defined as the limiting case of dynamics. The bridge between the two, from the point of view of the logical apparatus of analysis, was the consideration of homogeneous doses, dated at different instants of time, of the same good as different goods. In this framework the author suggested a reformulation of the concepts of uncertainty and risk. The individual approaches them on the basis of the principle that his decisions regarding the future depend upon a judgement representing an application of statistical methods, albeit a rough one. Consequently he acknowledged a relation between subjective probabilities and statistical method. The author regrets that a formal dynamic theory organized around anticipations has not yet been completly realized. The problem of individuals’ expectations still remains the basic point to define. In this framework the author suggests considering Shackle’s theory as a limiting case. Finally the general problem of the measure of the degree of probability of every theory is dealt with.
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