## Finetti, Bruno de

# Theory of Probability: A critical introductory treatment

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.

**Keywords:** probability theory, Bayes' Theorem, probability, Bayesian school of thought, subjectivist viewpoint, statistics, Probability & Mathematical Statistics

- Author(s)
- Finetti, Bruno de
- Publisher
- John Wiley and Sons, Inc.
- Publication year
- 2017
- Language
- en
- Edition
- 1
- Series
- Wiley Series in Probability and Statistics
- Page amount
- 600 pages
- Category
- Natural Sciences
- Format
- Ebook
- eISBN (ePUB)
- 9781119286295
- Printed ISBN
- 9781119286370