Motivating the Bayesian prior with de Finetti's theorem

from blog Alex Clemmer, | ↗ original
The modern axiomatization of probability theory (proposed in 1933 by Andrey Kolmogorov) was designed to provide a measure-theoretic probability calculus, that is, a definition of the rules for constructing and manipulating mathematical statements involving probabilities. Unfortunately, this axiomatization only tells us how to manipulate...