The Limits of Numerical Probability : Frank H . Knight and Ludwig Von Mises and the Frequency Interpretation Hans

1Interestingly, however influential Knight and Mises otherwise have been in shaping their respective schools, neither Knight nor Mises have been entirely successful in convincing their followers of this part of their doctrines. Similarly, while they were skeptical about the use of probability, Knight and Mises were also proponents of “a priori” economic theory, and in this regard, too, neither Knight nor Mises has been entirely successful with his students. See Knight (1940) and Mises (1966, chap. 2). 2Richard von Mises (1883–1953) was professor of mathematics at the University of Strassburg (1909–1919). In 1921 he was appointed professor of mathematics and director THE LIMITS OF NUMERICAL PROBABILITY: FRANK H. KNIGHT AND LUDWIG VON MISES AND THE FREQUENCY INTERPRETATION