Abstract
Probabilities of one-time events are unobservable and unmeasurable. According to empiricist and positivist principles, they must be meaningless. However, our cognitive limitations do not prevent entities and effects from existing. We show that the argument for existence of subjective probabilities relies crucially on the non-existence of objective probabilities. In this case however, the existence of subjective probabilities reduces to a triviality. When objective probabilities do not exist, we are free to believe whatever we like about these probabilities, without any consequences. The theorems which establish the existence of subjective probabilities are normally interpreted as establishing the existence of beliefs about probabilities. We show that this interpretation is not tenable when objective probabilities do not exist. We establish the validity of an alternative interpretation: in absence of objective probabilities, we are free to choose any arbitrary number as a subjective probability.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.