Objective probability


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Objective probability

The true unobservable underlying odds that something is so.

Objective Probability

The likelihood of the outcome of any event based upon recorded measurements rather than subjective analysis. Objective probability is considered more accurate than subjective estimates, thought it should be noted that analysts often rely on subjectivity just as much. Objective probability is important to both technical analysis and fundamental analysis.
References in periodicals archive ?
An individual with a higher predicted objective probability of an accident is more likely to have a low-quality insurer, as measured by summary indicators of quality (Table 7, Panel A, columns (2), (8), and (10)).
Not surprisingly, large gaps in the objective probability of college completion exist by the time students reach the 10th grade and these would need to be addressed with earlier interventions.
The expected intrinsic "consumption utility" p[U.sup.W] + (1 - p)[U.sup.L] increases with p, the objective probability of a home win.
(306) If this is meant as an objective probability concept, it suffers all the same flaws as it does in the probable cause context.
Wijst, "Default risk and its Greeks under an objective probability measure," in Proceedings of the Stockholm School of Economics--Department of Finance Seminar Series, November 2003.
While this method of assignment of probabilities seems reasonable, it is undeniable that it includes many subjective elements and that, therefore, it does not seem suitable as an identificatory model of a single objective probability, particularly in those cases in which there is no statistical information obtained from sufficiently log sequences of observations.
"Just as no man is allowed to be a judge in his own cause, similar fears of bias can arise when--without the consent of the other parties--a man chooses the judge in his own cause." (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.
Your chance of surviving is your objective probability of surviving.
(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.
Proponents of objective probability theories locate probability relations outside the human mind.
From equations (1) and (2), the critical objective probability, [P.sup.*], is given by:
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