This book offers a concise survey of basic probability theory from a thoroughly subjective point of view whereby probability is a mode of judgment. Written by one of the greatest figures in the field of probability theory, the book is both a summation and synthesis of a lifetime of wrestling with these problems and issues. After an introduction to basic probability theory, there are chapters on scientific hypothesis-testing, on changing your mind in response to generally uncertain observations, on expectations of the values of random variables, on de Finetti's dissolution of the so-called problem of induction, and on decision theory.

‘All of this is very lucidly presented and very easy and fun to read. There are a lot of extremely interesting examples and a lot of very instructive and entertaining exercises … I think it is a terrific introduction to the theme of subjective probability and the Bayesian approach to philosophy of science and epistemology that will be of interest to any professional or scientist as well.’

Ellery Eells - University of Wisconsin-Madison

'The book offers a concise survey of basic probability theory from a thoroughly subjective point of view whereby probability theory is a mode of judgement. Written by one of the greatest figures in the field of probability theory, the book is both a summation and a syntheses of a lifetime of wrestling with such problems and issues.'

Source: Phinews

'... a well written account of basic subjective probability as a tool for decision making under uncertain observations.'

Source: Zentralblatt MATH