# objective probability

Also found in: Financial, Encyclopedia.

## 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 ?
For a student with a given objective probability of college completion, white teachers are less optimistic when the student in question is black.
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.
That is, although different observers can start from a model based on different initial probabilities, from an increase of the evidence, its final probabilities will usually tend to converge producing the illusion of the existence of an objective probability (which, in terms of subjective interpretation, is only a void-of-meaning metaphysical concept).
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.
6) The theory should rest on a (yet to be supplied) notion of objective probability.
It seems even more attractive when you consider that, if you know enough about the horses to assess their objective probability of winning, you might reasonably be in a position to select a small number in each race that will give you a better than 50 per cent chance of getting each leg right.
From equations (1) and (2), the critical objective probability, [P.
t] and interest rates under the objective probability P by

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