  The aim of this paper is to extend probability theory from the classical to
the product t-norm fuzzy logic setting. More precisely, we axiomatize a
generalized notion of finitely additive probability for product logic formulas,
called state, and show that every state is the Lebesgue integral with respect
to a unique regular Borel probability measure. Furthermore, the relation
between states and measures is shown to be one-one. In addition, we study
geometrical properties of the convex set of states and show that extremal
states, i.e., the extremal points of the state space, are the same as the
truth-value assignments of the logic. Finally, we axiomatize a two-tiered modal
logic for probabilistic reasoning on product logic events and prove soundness
and completeness with respect to probabilistic spaces, where the algebra is a
free product algebra and the measure is a state in the above sense.
