Paradoxes in conditional probability

It is shown that paradoxes arise in conditional probability calculations, due to incomplete specification of the problem at hand. This is illustrated with the Borel and the Kac-Slepian type paradoxes. These are significant in applications including Bayesian inference. Also Rényi's axiomatic setup does not resolve them. An open problem on calculation of conditional probabilities in the continuous case is noted.

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Year of publication:	1988
Authors:	Rao, M. M.
Published in:	Journal of Multivariate Analysis. - Elsevier, ISSN 0047-259X. - Vol. 27.1988, 2, p. 434-446
Publisher:	Elsevier
Keywords:	conditional probability Borel and Kac-Slepian paradoxes Renyis axioms Bayesian analysis

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005199779