Conditional Probability Spaces
نویسندگان
چکیده
Improper priors are used frequently, but often formally and without reference to a sound theoretical basis. The present paper demonstrates that Kolmogorov’s (1933) formulation of probability theory admits a minimal generalization which includes improper priors and a general Bayes theorem. The resulting theory is closely related to the theory of conditional probability spaces formulated by Renyi (1970), but the initial axioms and the motivation differ. The formulation includes Bayesian and conventional statistics as extreme cases, and suggests that intermediate cases can be considered.
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