The situation with Bayesian statistics resembles the alleged remark by Churchill about democracy. This is an awful way to make inferences with many flaws. The only good thing about it that alternatives are even worse.
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I don't get why the example is bad.
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Me neither and I am not a Bayesian!
End of conversation
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Interesting. I thought we were over the Bayes cult stuff, and that people were more moderate in their views and expectations these days. A few decades ago prominent people actually claimed that Bayes's formula solved the problem of induction. Surely we're not doing that anymore?
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Isn't the problem with the example coming from generalizing from 'just one sample'? If we had more samples we can have a better posterior. The same problem problem would exist even in a frequentist setting.
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