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Bayesian Synthesis or Likelihood Synthesis - What Does the Borel Paradox Say?

Author

Listed:
  • Schweder, T.
  • Hjort, N.L.

Abstract

The relevance of the Borel paradox to Bayesian Synthesis is explained and illustrated by examples related to the assessment of bowhead whales. It is argued that the paradox is a serious, and that if conditions for the paradox to be of minor concern are observed, the attraction of the Bayesian Synthesis method will fade, sine then the freedom of disregarding the constraints of the deterministic model when carrying out the initial statistical analysis is destroyed.

Suggested Citation

  • Schweder, T. & Hjort, N.L., 1996. "Bayesian Synthesis or Likelihood Synthesis - What Does the Borel Paradox Say?," Memorandum 1996_013, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:1996_013
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    Citations

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    Cited by:

    1. Bordley, Robert & Bier, Vicki, 2009. "Updating beliefs about variables given new information on how those variables relate," European Journal of Operational Research, Elsevier, vol. 193(1), pages 184-194, February.
    2. Schweder,T. & Hjort,N.L., 2001. "Confidence and likelihood," Memorandum 01/2001, Oslo University, Department of Economics.
    3. Wetzels, Ruud & Grasman, Raoul P.P.P. & Wagenmakers, Eric-Jan, 2010. "An encompassing prior generalization of the Savage-Dickey density ratio," Computational Statistics & Data Analysis, Elsevier, vol. 54(9), pages 2094-2102, September.
    4. Robert Bordley, 2015. "Avoiding both the Garbage-In/Garbage-Out and the Borel Paradox in updating probabilities given experimental information," Theory and Decision, Springer, vol. 79(1), pages 95-105, July.

    More about this item

    Keywords

    STATISTICS; LIKELIHOOD FUNCTION;

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other

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