WE do not make a general statement to the effect that subjective probabilities in all situations diminish with increase in age, but merely refer to the subjective probability of winning the uncertain ...

New research uncovers why an increase in probability feels riskier than a decrease. The research falls under the realm of subjective probability, also known as likelihood or risk. While past research ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

Roth, A. E., and F. Schoumaker. "Subjective Probability and the Theory of Games: Some Further Comment." Management Science 29, no. 11 (November 1983): 1337–1340.

If you enjoyed this article, I’d like to ask for your support. Scientific American has served as an advocate for science and industry for 180 years, and right now may be the most critical moment in ...

Richard C. Jeffrey, tireless champion of (subjective) probability as "the very guide to life," taught philosophy at Princeton from 1974 until his retirement in 1999. This site collects Prof. Jeffrey's ...

IN a communication under the above title, Cohen and Hansel 1 point out that if a prize is certain and large enough, in relation to the individual's scale of values, it will be preferred to an ...