You, A Bayesian
Friday, October 2, 2009 - 03:07
in Mathematics & Economics
Everyday use of a mathematical concept The concept of probability is not alien to even the least mathematically versed among us: even those who do not remember the basic math they had in primary schools use it currently in their daily reasoning. I find the liberal use of the word "probability" (and derivates) in common language interesting, for two reasons. One, because the word has in fact a very definite mathematical connotation. And two, because the word is often used to discuss the knowledge of a system's evolution in time without a clear notion of which, among either of two strikingly different sources, is the cause of our partial or total ignorance. read more