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Stephen_Cole comments on 0 And 1 Are Not Probabilities - Less Wrong
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That seems a solid enough explanation, but how can something of probability zero have a chance to occur? How then do you represent an impossible outcome? It seems like otherwise 'zero' is equivalent to 'absurdly low'. That doesn't quite jive with my understanding.
I think one of the clearest expositions on these issues is ET Jaynes. The first three chapters (which is some of the relevant part) can be found at http://bayes.wustl.edu/etj/prob/book.pdf.
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Fixed Jaynes link (no trailing period).
Ah. Thanks!
Oops. Thanks for the fix!