Bayes' Theorem and Posterior Distributions foundational
Bayesian inference updates a probability distribution over unknown quantities rather than replacing uncertainty with a single estimate.
Bayesian inference updates a probability distribution over unknown quantities rather than replacing uncertainty with a single estimate.
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References
Bayesian Methods in Asset Management
Bradford Cornell
(2023)
— The Journal of Portfolio Management
Coherent Measures of Risk
Philippe Artzner, Freddy Delbaen, Jean-Marc Eber, David Heath
(1999)
— Mathematical Finance