Why Probability Probably Doesn't Exist (But It's Useful to Act Like It Does)
Briefly

The concept of uncertainty is intricately tied to our awareness of what we do and do not know. In daily life, we articulate uncertainty with phrases indicating potential outcomes, yet the application of such vague terms can lead to significant misinterpretations, as demonstrated by the miscommunication in the Bay of Pigs invasion. This exemplifies how numerical values are often preferable to subjective interpretations of likelihood, allowing for a clearer understanding of risks.
Histories of events like the Bay of Pigs invasion illustrate the dangers of vague assessments. President Kennedy was provided with a report indicating a ‘fair chance’ for success, which masked the reality of a 70% failure rate. This gap between perceived likelihood and actual statistical probability can have catastrophic consequences. Thus, developing a standard language for expressing uncertainty is paramount, especially in high-stakes decision-making contexts.
Read at www.nature.com
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