Bayesian Probability

(redirected from Subjective probability)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

Bayesian Probability

A revision of a previous probability based on new information. In Bayesian analysis, one makes mathematical assumptions about unavailable information. As that information is gathered and disseminated, the Bayesian probability corrects or replaces the assumptions and alters its results accordingly.
References in periodicals archive ?
This occurs because potential criminals must base their subjective probability of conviction upon the absolute.
To check whether people actually perceive the pension uncertainty implied by current legislation, in the section "The Subjective Probability Distribution of the Replacement Rate," we use subjective expectations of replacement rates to construct individual replacement rate distributions.
But it does mean that the law would send a message to judges about how confident they must be in the rightness of their decisions based on all the practical considerations that enter into subjective probability assessments.
Consequently, in line with Figlewski's (1979) argument, we assume that the market's subjective probability is given by
Neither self-assessed control over life events nor the subjective probability of living another 10 years was associated with the person's HbA1c level.
Second, we assume that each individual has a subjective probability of the perceived effectiveness of the vaccination, [[pi].
The current state of practice for homeland security applications is that decision-analytic methods using subjective probability and multi-objective analysis are more commonly used.
In this paper, we will study the usefulness of subjective probability forecasts obtained from the Survey of Professional Forecasters (SPF) as predictors of cyclical downturns.
To them, Trust is "a particular level of the subjective probability with which an agent assesses that another agent or group of agents will perform a particular action" (Gambetta, 1988, p.
The TRA has three major constructs: 1) attitude towards the behavior in question--one can hold either a positive or negative attitude toward a behavior; 2) subjective norm--the perception of what others think about the behavior and the motivation to comply with that perception; and 3) behavioral intention--a person's subjective probability of performing the behavior (Fishbein & Ajzen, 1975).
Full browser ?