The current definition of a conditional probability enables one to update probabilities only on the basis of stochastic information. This paper provides a definition for conditional probability with non-stochastic information. The definition is derived by a set of axioms, where the information is connected to the outcome of interest via a loss function. An illustration is presented.
Bissiri P.G., Walker S.G. (2018). A definition of conditional probability with non-stochastic information. ENTROPY, 20(8), 1-8 [10.3390/e20080572].
A definition of conditional probability with non-stochastic information
Bissiri P. G.;
2018
Abstract
The current definition of a conditional probability enables one to update probabilities only on the basis of stochastic information. This paper provides a definition for conditional probability with non-stochastic information. The definition is derived by a set of axioms, where the information is connected to the outcome of interest via a loss function. An illustration is presented.File in questo prodotto:
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