Compatible Prior Distributions
نویسندگان
چکیده
We investigate two approaches to constructing compatible prior laws over alternative models: ‘projection’ and ‘conditioning’. Each of these is shown to require additional inputs. We suggest that these can be chosen in a natural way in each case, leading to ‘Kullback-Leibler projection’ and ‘Jeffreys conditioning’. We recommend the former for the case of coexisting models, and the latter for competing models.
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