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#1
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Another Bent Coin Problem
Suppose I have a coin and bend it so that the probability
of it landing heads, call that P, if I flip is NOT 1/2 (after all, there might be a reason to bend the coin). What then? Without any extra information, the betting line is at 1-1, yet we don't know on which side we would have the best of it. On the one hand, there is some information, but because it is so little ({1/2} is not only a set of measure zero on [0,1], but it's a mere "point"), the Bayesians will still say their value of P is 1/2. The frequentists will say that we don't know what P is, but it isn't 1/2. Is my "interpretation" of the common points of view correct? |
#2
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Re: Another Bent Coin Problem
my ? is that using sklansky view you can use knowledge to not lose money against a bent coin, but what use can you put the jason/PTB view?
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