Intuition and surprise
Michael R. Powers · The Journal of Risk Finance · 2007
Purpose This editorial seeks to address the importance of intuition and metaphor in the construction of logical systems of thought. Design/methodology/approach Two unconventional approaches to probability theory are considered, one based upon the non‐intuitive law of the excluded middle, and one based upon the notion of surprise. Findings It is argued that formal systems based upon non‐intuitive assumptions/axioms are generally less likely to be accepted by researchers. Nevertheless, it sometimes is possible to identify unconventional systems with greater intuitive appeal than their more orthodox counterparts. Originality/value The editorial emphasizes an aspect of formal mathematical systems – intuition – that is often overlooked.