A common misconception about Bayesian statistics is that it mainly involves incorporating personal prior beliefs or subjective opinions. While priors do play a role, the core strength of Bayesian ...

Discover how credibility theory helps actuaries use historical data to estimate risks and set insurance premiums; learn how ...

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Some of you may have come across a growing number of publications in your field using an alternative paradigm called Bayesian statistics in which to perform their statistical analyses. The goal of ...

Uncertainty in specification of the prior distribution is a common concern with Bayesian analysis. The robust Bayesian approach is to work with a class of prior distributions, which model uncertainty ...

Bayes’s core contribution, which Chivers skillfully renders into cogent prose designed to educate the lay reader, is the notion that the likelihood of an event taking place in the future depends, in ...

Scientists have developed a method to identify symmetries in multi-dimensional data using Bayesian statistical techniques. Bayesian statistics has been in the spotlight in recent years due to ...