I'm not totally convinced of the importance of universal priors. Any thoughts on this?
You can. They eventually approximate a universal inductor in a technical sense specified in the paper (iirc).
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You can think of it as a universal approximation of a universal prior, in that it does at least as well as any poly time approximation would
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(It takes exp time to dominate all poly time algs, so it's not dominating the same class; but that's provably impossible for this task)
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