however large, is some improvement, however tiny, for the worse off, relative to the conceivably very depressed counterfactual situation of total equality between the expectations of the more fortunate and the
The frequentist interpretation identifies the probability of an event A with the limit of the relative frequency of its occurrence: (14) viewed in the context of a well-defined stochastic mechanism . This aims to formalize the relationship between probability and ‘stable long-run frequencies’ that...