THE usual interpretation of the quantum theory is based on an assumption having very far-reaching implications,*viz*., that the physical state of an individual system is completely specified by a wave function that determines only the probabilities of actual results that can be obtained in a statistical ensemble of similar experiments. This assumption has been the object of severe criticisms, notably on the part of Einstein, who has always believed that, even at the quantum level, there must exist precisely definable elements or dynamical variables determining (as in classical physics) the actual behavior of each individual system, and not merely