Aditya Rai Sud

58%
Flag icon
According to the textbooks on Bayesian analysis, if you believe that your assumptions are reasonable, it is “perfectly acceptable” to make your subjective probability of a certain event equal to a frequency probability.12 What you have to do is sift out the unreasonable and illogical and retain the reasonable. It is helpful to think about subjective probabilities as nothing more than extensions of the frequency probability method.
The Warren Buffett Way
Rate this book
Clear rating
Open Preview