Bayesianism is the broader philosophy inspired by Bayes' theorem. The core claim behind all varieties of Bayesianism is that probabilities are subjective degrees of belief -- often operationalized as willingness to bet.
*See also: *Bayes theorem, Bayesian probability, Radical Probabilism, Priors, Rational evidence, Probability theory, Decision theory, Lawful intelligence, Bayesian Conspiracy,
This stands in contrast to other interpretations of probability, which attempt greater objectivity. The frequentist interpretation of probability has a focus on repeatable experiments; probabilities are the limiting frequency of an event if you performed the experiment an infinite number of times.
There is a conceoption of rationality for bayesian can be treated as technical codeword that cognitive scientists use to mean "rational". Bayesian probability theory is the math of epistemic rationality, Bayesian decision theory is the math of instrumental rationality. Right up there with cognitive bias as an absolutely fundamental concept on Less Wrong.
The term "Bayesian" may also refer to an ideal rational agent implementing precise, perfect Bayesian probability theory and decision theory (see, for example, Aumann's agreement theorem).
There isBayesians conceive rationality as aconceoption of rationality forbayesiancan be treated astechnical codewordthatused by cognitive scientistsuseto mean "rational". Bayesian probability theory is the math of epistemic rationality, Bayesian decision theory is the math of instrumental rationality. Right up there with cognitive bias as an absolutely fundamental concept on Less Wrong.