two different agents can come up with two different prior for the same problem, they can do so only if they have different information

Sure, but agents almost always have different background information, in some cases radically different background information.

Let's say a pharma company comes out with a new drug. The company claims: "Using our specially-developed prior, which is based on our extensive background knowledge of human biochemistry, in combination with the results of our recent clinical trial, we can see that our new drug has a miracu... (read more)

Sure, but agents almost always have different background information, in some cases radically different background information.

In that case, it's the correct situation that they come up with different prior.

he wanted to claim that there exists some ideal prior that can be derived directly from the problem formulation.

Yes, but he also made a point to always include all background information in the problem formulation. He explicitly wrote so, and his formulas had a trailing term P(...|...,X) to account for this.
It might be interesting to explore what... (read more)

Open thread, Jul. 25 - Jul. 31, 2016

by MrMind 1 min read25th Jul 2016133 comments

3


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