Interpretations of Probability and Bayesian Inference—an Overview

Abstract

In this article, I first give a short outline of the different interpretations of the concept of probability that emerged in the twentieth century. In what follows, I give an overview of the main problems and problematic concepts from the philosophy of probability and show how they relate to Bayesian inference. In this overview, I emphasise that the understanding of the main concepts related to different interpretations of probability influences the understanding and status of Bayesian inference. In the conclusion, I express that, from a broad epistemological point of view, a kind of compatibilism between the two main lines of interpretations of probability is worth pursuing, as they represent different aspects of the epistemological process.