Mathematical Models
So, the term imprecise probability—although an unfortunate misnomer as it enables more accurate quantification of uncertainty than precise probability—appears to have been established in the 1990s, and covers a wide range of extensions of the theory of probability, including:
- previsions
- lower and upper probabilities, or interval probabilities
- belief functions
- possibility and necessity measures
- lower and upper previsions
- comparative probability orderings
- partial preference orderings
- sets of desirable gambles
- p-boxes
- robust Bayes methods
Read more about this topic: Imprecise Probability
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