Vaxjo Interpretation of Wave Function: 2012

Abstract: We discuss the problem of interpretation of the wave function. The latest version of the V\"axj\"o interpretation is presented. It differs essentially from the original V\"axj\"o interpretation (2001). The main distinguishing feature of the present V\"axj\"o interpretation is the combination of realism on the subquantum level with nonobjectivity of quantum observables (i.e., impossibility to assign their values before measurements). Hence, realism is destroyed by detectors transforming continuous subquantum reality into discrete events, clicks of detectors. The V\"axj\"o interpretation-2012 is fundamentally contextual in the sense that the value of an observable depends on measurement context. This is contextuality in Bohr's sense. It is more general than Bell's contextuality based on joint measurements of compatible observables.