<philosophical terminology> the likelihood that an event will occur, expressed quantitatively by a number ranging from 0 (impossible) to 1 (certain). Initial probabilities are often assigned either on the classical assumption that every possible outcome is equally likely to occur or by careful empirical observation of the relative frequency with which events have actually occurred in the past. The likelihood of alternative and joint occurrences can be calculated directly from these initial values. Recommended Reading: Patrick Suppes, Foundations of Probability With Applications (Cambridge, 1996); Richard Jeffrey, Probability and the Art of Judgment (Cambridge, 1992); Donald Gillies, Philosophical Theories of Probability (Routledge, 2000); Henry Kyburg, Studies in Subjective Probability (Krieger, 1980); and The Theory of Gambling and Statistical Logic, ed. by Richard A. Epstein (Academic, 1995).
[A Dictionary of Philosophical Terms and Names]
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