Nomination for Best Post of the Month

Best Post of the Month in the Economics Category?

Popperian falsification is just a special case of the Bayesian view: if the likelihood P(data|model) is zero (indicating that the data is impossible given the model), P(model|data) is zero, regardless of the prior. But the Bayesian approach offers some sort of a weighted preference among all the models that haven’t been refuted yet, balancing the Ockhamist preference for simplicity through the prior and the desire for accuracy through the likelihood.

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