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Generally there is Stigler's law of eponymy that says that a scientific notion is never attributed to the right person; in particular, the law is not due to Stigler.
Dennis Lindley
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The grand assertion is that you must see the world through probability and that probability is the only guide you need.
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There are some things that you know to be true, and others that you know to be false; yet, despite this extensive knowledge that you have, there remain many things whose truth or falsity is not known to you. We say that you are uncertain about them. You are uncertain, to varying degrees, about everything in the future; much of the past is hidden from you; and there is a lot of the present about which you do not have full information. Uncertainty is everywhere and you cannot escape from it.
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Uncertainty is a personal matter; it is not the uncertainty but your uncertainty.
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It is dangerous to attach probability zero to anything other than a logical impossibility.
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It is not surprising that in talking about uncertainty we should lean heavily on facts, just as the court of law does when interrogating witnesses. Facts form a sort of bedrock on which we can build the shifting sands of uncertainty.
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It is not merely a question of calculating with probabilities but also one of relating the ingredients of your probability statements to reality. You do not need to think only about p(E|K) but also about the precise nature of E and K.
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There is much evidence that people are not rational, in the economist's sense; nor do they take into account expectation, in the precise interpretation of that word. As a result economic theory often does not correspond with what happens in the market. Some would argue that we need descriptive economics. I would argue that all should be taught about probability, utility, and MEU (maximization of expected utility) and act accordingly.
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In teaching there can be too much emphasis on certainty and a proper appreciation of uncertainty is to be encouraged.
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Whatever way uncertainty is approached, probability is the only sound way to think about it.
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Consider the case of a person who holds a view with probability 1. Then coherence says that it is no use having a debate with them because nothing will change their mind.
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Utility is the emotion pleading to be let into the house of pure reason and thereby enriching it.
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In my opinion, it helps enormously to know why something is true, rather than being told it is true, for why should you believe me? Never believe anything on the authority of a single person but seek confirmation — and reason is the best confirmation.
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Almost all thinking people agree that you should not have probability 1 (or 0) for any event, other than one demonstrable by logic, like 2 x 2 = 4.
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Are we probabilists, believers, or fuzzifiers?
Dennis Lindley
Quote of the day
Nobody ever did anything very foolish except from some strong principle.
William Lamb, 2nd Viscount Melbourne
Dennis Lindley
Born:
July 25, 1923
Died:
December 14, 2013
(aged 90)
Bio:
Dennis Victor Lindley was a British statistician, decision theorist and leading advocate of Bayesian statistics.
Known for:
Understanding Uncertainty (2006)
New Cambridge Statistical Tables (1953)
Making Decisions (1969)
Bayesian Statistics: A Review (1972)
Dennis Lindley on Wikipedia
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