The purpose of this paper is to show that if one adopts conditional probabilities as the primitive concept of probability, one must deal with the fact that even in very ordinary circumstances at least some probability values may be imprecise, and that some probability questions may fail to have numerically precise answers.

The theory of lower previsions is designed around the principles of coherence and sure-loss avoidance, thus steers clear of all the updating anomalies highlighted in Gong and Meng's "Judicious Judgment Meets Unsettling Updating: Dilation, Sure Loss, and Simpson's Paradox" except dilation. In fact, the traditional problem with the theory of imprecise probability is that coherent inference is too complicated rather than unsettling. Progress has been made simplifying coherent inference by demoting sets of probabilities from fundamental building blocks to secondary representations (...) that are derived or discarded as needed. (shrink)