objective probability


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ob·jec·tive prob·a·bil·i·ty

a probability of an outcome based either on unassailable theory or extensive empiric experience of exactly the same combination of circumstances; the notion also implies that the realization concerned has not been effected and therefore even in principle not known with certainty.
References in periodicals archive ?
As Wilkinson 1 points out, the objective probabilities do not apply to the research hypotheses because these have no associated population to which an objective probability can be applied.
255) Standards of proof in the area of probable cause can therefore not be rejected on the theory that they will distort objective probability judgments because such judgments are in fact not being made.
99) Therefore, the objective probability of bias that emerged from this set of facts required the recusal of Justice Benjamin as a matter of due process.
The empirical consequence is that, for the same objective probability of winning, an unraced 2-year-old horse would be set at lower odds (i.
but he cannot afford each a two-thirds objective probability of surviving at 1 p.
s] than the objective probability due to the "overconfidence effect" (Griffin and Varey, 1996, Dunning et al.
As a supplement to Bernoulli's Theorem, Bayes work looks like nothing more than a contribution to objective probability theory.
Galileo and Kepler used the language of objective probability about the way evidence supported their theories, and in the last hundred years a number of books have filled out the theory of logical probability--Keynes's Treatise on Probability (the great work of his youth, before he went on to easier pickings in economics), D.
The actual objective probability of winning on the type of bets all subjects made throughout the experiment was 11%
8) In Equation (10), the state price replaces the objective probability in Equation (8), and the right-hand side of equation (10) has an additional adjustment for the time value of money involved in carrying costs.
A significant difference between subjective and objective probability for a group indicates mispricing and market inefficiency.

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