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The Smith-Walley Interpretation of Subjective Probability: An Appreciation

Carl G. Wagner
Studia Logica: An International Journal for Symbolic Logic
Vol. 86, No. 2, Formal Epistemology I (Jul., 2007), pp. 343-350
Published by: Springer
Stable URL: http://www.jstor.org/stable/40210755
Page Count: 8
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The Smith-Walley Interpretation of Subjective Probability: An Appreciation
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Abstract

The right interpretation of subjective probability is implicit in the theories of upper and lower odds, and upper and lower previsions, developed, respectively, by Cedric Smith (1961) and Peter Walley (1991). On this interpretation you are free to assign contingent events the probability 1 (and thus to employ conditionalization as a method of probability revision) without becoming vulnerable to a weak Dutch book.

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