- The Frequentists see fixed parameters that define a sampling distribution from which observations are randomly sampled from.
- The Bayesians see observations as fixed, and the parameters as being determined randomly sampled from a distribution of parameters.
- It is more natural and optimal to be Bayesian than Frequentist.
Unfiled
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Cox’s Axioms imply that for any mechanical system to represent beliefs, it must manipulate its beliefs based on the laws of probability.
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The Principle of Insufficient Reason states that one should use uniform distributions when there are no other reasons to favor one distribution over another.
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Luce’s Choice Axiom states that the probability of selecting one item over another from a pool of many items is not affected by the presence of absence of other items in the pool.
Topics
Links
- Probability Theory - corequisite