I want to understand Bayesian reasoning in detail, in the sense that, I want to take up a statement that is relevant to our daily life and then try to find exactly how much should I believe in it based on the the beliefs that I already have. I think this might be a good exercise for the LW community? If yes, then let's take up a statement, for example, "The whole world is going to be nuked before 2020." And now, based on whatever you know right now, you should form some percentage of belief in this statement. Can someone please show me exactly how to do that?
Normally I would try and find systematic risk analyses by people who know more about this subject than me. However, Martin Hellman has written a preliminary risk analysis of nuclear deterrence as part of his Defusing the Nuclear Threat project, and he claims that there have been no formal studies of the failure rate of nuclear deterrence. Hellman himself estimates that failure rate as on the order of 1% a year, but I don't know how seriously to take that estimate.
You know what to do.
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