Probability

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PROBABILITY. That which is likely to happen; that which is most consonant to reason; for example, there is a strong probability that a man of a good moral character, and who has heretofore been remarkable for truth, will, when examined as a witness under oath, tell the truth; and, on the contrary, that a man who has been guilty of perjury, will not, under the same circumstances, tell the truth; the former will, therefore, be entitled to credit, while the latter will not.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
To measure private information, we include covariates for risk preference and the subjective probability of having an accident next year elicited at Wave 1.
The normative nature of this intuition is highlighted by the findings that the bias was not mediated by the participants' subjective probability assessments or by their confidence in those assessments (Experiments 2a-b), was considerably more pronounced in the realm of losses than in the realm of gains (Experiments 2a-c), persisted when the similarity between the two types of evidence could not be ignored (Experiment 2c), and exhibited even when subjects were confronted with the logical inevitability of the inference (Experiment 4).
Still, the uncertainty could concern unique events, because one can speak of the subjective probability of x and y turning out to be either true=1 or false=0.
Consequently, in line with Figlewski's (1979) argument, we assume that the market's subjective probability is given by
Subjective probability and the theory of games: Comments on Kadane and Larkey's paper.
Persons with higher self-assessed control over life events utilized more recommended care and engaged in more recommended health practices (odds ratio [OR] = 1.26, 95 percent confidence interval [CI] 1.03-1.54, Table 2) as did those with a higher subjective probability to living about another i0 years (OR= 1.60, 95 percent CI 1.16-2.21).
Robust Definition of Subjective Probability, in 2 THE ECONOMICS OF
"The growth/inflation dichotomy has become starker but we judge that the activity numbers, alongside worse news on the housing market this week, will be seen with greater concern by policymakers," he said."Given the worsening inflation outlook we cannot rule out a rate hike by the Bank of England in July, but we have cut our subjective probability of that outcome from 40 per cent to 25 per cent."
They begin by explaining theories such as subjective probability and paradoxes in probability theory, then apply probability theory to statistics and explaining the Bayesian approach to statistics, the design of experiments, causation and causal inference and the randomness of computations.
Probabilities Aleatoric Epistemic Objective Relative Frequency Logical Probability Subjective Subjective Probability Social Probability The theory of relative frequency evolved from the work of Venn, Borel, Helm, Reichenbrach, and Nagel, and in particular Richard von Mises.

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