Theory of Probability: A Critical Introductory Treatment

By Bruno De Finetti

First issued in translation as a two-volume work in 1975, this classic book provides the first complete development of the theory of probability from a subjectivist viewpoint. It proceeds from a detailed discussion of the philosophical mathematical aspects to a detailed mathematical treatment of probability and statistics.

De Finetti's theory of probability is one of the foundations of Bayesian theory. De Finetti stated that probability is nothing but a subjective analysis of the likelihood that something will happen and that that probability does not exist outside the mind. It is the rate at which a person is willing to bet on something happening. This view is directly opposed to the classicist/ frequentist view of the likelihood of a particular outcome of an event, which assumes that the same event could be identically repeated many times over, and the 'probability' of a particular outcome has to do with the fraction of the time that outcome results from the repeated trials.

• Format: Hardcover
• Language: English
• ISBN: 1119286379
• ISBN13: 9781119286370
• Release Date: April 2017
• Publisher: Wiley
• Length: 608 Pages
• Weight: 2.35 lbs.
• Dimensions: 1.3" x 6.9" x 9.7"