On April 17, 1761, English mathematician and Presbyterian minister Thomas Bayes passed away. He is best known as name giver of the Bayes’ theorem, of which he had developed a special case. It expresses (in the Bayesian interpretation) how a subjective degree of belief should rationally change to account for evidence, and finds application in in fields including science, engineering, economics (particularly microeconomics), game theory, medicine and law. “[My favourite fellow of the…Read more
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