Ep. 78 - Bayesian Thinking: Flat Earth Priors, The Mises Brothers, and Curb Your Analogy

As Max returns from Lviv Ukraine where he offered a course on Bayesian thinking, he shares his knowledge and insights.- What are the drawbacks and limitations to Bayes rule vs other approaches?- Is probability objective or subjective? - How did Larry David illustrates argument by analogy?- The von Mises brothers include one free market economist (Ludwig) and one statistician (Richard) - what did they have to say on this topic?- What’s the problem with a Flat Earth Prior? Get full access to The Local Maximum at localmaximum.substack.com/subscribe