A good nutshell description of the type of Bayesianism that many LWers think correct is objective Bayesianism with critical rationalism-like underpinnings. Where recursive justification hits bottom is particularly relevant. On my cursory skim, Albert only seems to be addressing "subjective" Bayesianism which allows for any choice of prior.
It seems to think the problem of the priors does in Bayesianism :-(
Popper seems outdated. Rejecting induction completely is not very realistic.
I have just rediscovered an article by Max Albert on my hard drive which I never got around to reading that might interest others on Less Wrong. You can find the article here. It is an argument against Bayesianism and for Critical Rationalism (of Karl Popper fame).
Abstract:
Economists claim that principles of rationality are normative principles. Nevertheless,
they go on to explain why it is in a person’s own interest to be rational. If this were true,
being rational itself would be a means to an end, and rationality could be interpreted in
a non-normative or naturalistic way. The alternative is not attractive: if the only argument
in favor of principles of rationality were their intrinsic appeal, a commitment to
rationality would be irrational, making the notion of rationality self-defeating. A comprehensive
conception of rationality should recommend itself: it should be rational to be
rational. Moreover, since rational action requires rational beliefs concerning means-ends
relations, a naturalistic conception of rationality has to cover rational belief formation including
the belief that it is rational to be rational. The paper considers four conceptions
of rationality and asks whether they can deliver the goods: Bayesianism, perfect rationality
(just in case that it differs from Bayesianism), ecological rationality (as a version of
bounded rationality), and critical rationality, the conception of rationality characterizing
critical rationalism.
Any thoughts?