Probabilistic events and physical reality: A complete algebra of probability

This contribution derives from a rather extensive study on the foundations of probability. We start by discussing critically the two main models of the random event in Probability Theory and cast light over a number of incongruities. We conclude that the argument of probability is the critical knot of the probability foundations and put forward the structure of levels for the partially determinate event. The structural model enables us to define the probability and to attune its subjective and objective interpretations.