Maximum-entropy from the probability calculus: exchangeability, sufficiency

PierGianLuca Porta Mana
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PierGianLuca Porta Mana: Norwegian University of Science and Technology

No xdy72, OSF Preprints from Center for Open Science

Abstract: Maximum-entropy distributions are shown to appear in the probability calculus as approximations of a model by exchangeability or a model by sufficiency, the former model being preferable. The implications of this fact are discussed, together with other questions: Prediction or retrodiction? How good is the maximum-entropy approximation? Is this a "derivation" of maximum-entropy?

Date: 2017-06-26
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:xdy72

DOI: 10.31219/osf.io/xdy72

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