The Nature of Probability

The thesis of this article is that the nature of probability is centered on its formal properties, not on any of its standard interpretations. Section 2 is a survey of Bayesian applications. Section 3 focuses on two examples from physics that seem as completely objective as other physical concepts. Section 4 compares the conflict between subjective Bayesians and objectivists about probability to the earlier strident conflict in physics about the nature of force. Section 5 outlines a pragmatic approach to the various interpretations of probability. Finally, Sect. 6 argues that the essential formal nature of probability is expressed in the standard axioms, but more explicit attention should be given to the concept of randomness.