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“Can You Change Your Bayesian Prior?”

1 July 2017
DGM: “Is it legitimate to change one’s prior based on the data?”
Sometimes. A subjective Bayesian encountering completely unexpected data changes the prior:
In the philosophy literature, that has been compared to changing the premises of a deductive argument. It has been argued that just as one may revise a premise without abandoning deductive logic as a tool, one may revise a prior without abandoning Bayesian updating as a tool.
Categories: Fragments, model checking