Imprecise probabilities

Abstract

It has been argued that imprecise probabilities are a natural andintuitive way of overcoming some of the issues with orthodox preciseprobabilities. Models of this type have a long pedigree, and interestin such models has been growing in recent years. This articleintroduces the theory of imprecise probabilities, discusses themotivations for their use and their possible advantages over thestandard precise model. It then discusses some philosophical issuesraised by this model. There is also a historical appendix whichprovides an overview of some important thinkers who appear sympatheticto imprecise probabilities.