A Definition of Conditional Probability with Non-Stochastic Information
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.
2019 ◽
Vol 1
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pp. 260-264
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