Definition:Objective Unknown

Definition
An objective unknown is an event which has a well-defined objective probability of occurring.

Two objective unknowns with the same probability are equivalent in the field of decision theory.

An objective unknown is appropriately modelled by means of a probability model.

Also known as
Some sources refer to an objective unknown as a risk.

A gamble on an objective unknown can be seen referred to as a roulette lottery.

Also see

 * Definition:Subjective Unknown