Abstract

This essay attempts to suggest a third way to interpret probabilities based on diagnoses of weaknesses and strengths of the objective and the subjective interpretations. While the objective interpretations capture important intuitions in employing probability, it can provide the definitions of probability only in a circular way. Although the subjective interpretations seem to avoid this problem, it also fails to understand how one can extract certain information from the ignorance of a given system. It will be suggested that these problems can be bypassed if we consider probabilities as theoretical structure, which provide significant generalizations about the world.