Throughout the play, Shakespeare calls attention to the variable nature of interpretation. The play contains numerous instances in which a statement or situation presents multiple interpretations, resulting in complexity and conflict. In many cases, these instances produce a comedic effect. For instance, Launcelot’s puns at the end of act 3 frustrate Lorenzo, because he cannot seem to convey the simple idea to the clown that he wants to eat dinner. We also see how context can influence interpretation; in act 5, Lorenzo and Jessica, as well as Portia and Nerissa, describe the ways that certain attitudes and environments may affect the ways that one interprets the beauty of music. Taste, then, relies on ever-shifting interpretations that may change within one individual given their state of mind or location.

While these puns and discussions of music offer comedy and levity, the act of interpreting also carries heavier implications. It is, for instance, an interpretation of the Bible through which Shylock justifies his charging of interest, and this leads to a dispute between himself and Antonio. The test for Portia’s hand is an act of interpretation—those who do not correctly interpret the engravings on each chest are doomed to leave and never marry. It is arguably interpretation that leads to the dispute about rings at the end of the play; neither Bassanio nor Gratiano understood the meaning behind the rings that their respective wives gave them. Finally, it is through interpretation of a legal document that Antonio is saved by Portia. Indeed, while interpretation can be a playful act, it has weighty implications. For Antonio, it determines whether he will live or die. For Portia, Bassanio, and the other suitors, it determines their romantic prospects. For Shylock, it determines the justice—or lack thereof—he receives.