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A definition of conditional probability with non-stochastic information

Lookup NU author(s): Dr Pier Giovanni Bissiri

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Abstract

© 2018 by the authors. The current definition of a conditional probability enables one to update probabilities only on the basis of stochastic information. This paper provides a definition for conditional probability with non-stochastic information. The definition is derived by a set of axioms, where the information is connected to the outcome of interest via a loss function. An illustration is presented.

Publication metadata

Author(s): Bissiri PG, Walker SG

Publication type: Article

Publication status: Published

Journal: Entropy

Year: 2018

Volume: 20

Issue: 8

Online publication date: 03/08/2018

Acceptance date: 31/07/2018

Date deposited: 05/10/2018

ISSN (electronic): 1099-4300

Publisher: MDPI AG

URL: https://doi.org/10.3390/e20080572

DOI: 10.3390/e20080572

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