Open AccessOn the Relevance of the Bayesian Approach to Statistics
Author(s) -
Christian P. Robert
Publication year - 2010
Publication title -
review of economic analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.101
H-Index - 1
ISSN - 1973-3909
DOI - 10.15353/rea.v2i2.1469
Subject(s) - bayesian probability , relevance (law) , bayesian statistics , meaning (existential) , epistemology , theme (computing) , econometrics , bayesian econometrics , probability and statistics , bayesian inference , statistics , sociology , positive economics , computer science , philosophy , mathematics , economics , political science , law , operating system
In this essay, I argue about the relevance and the ultimate unity of the Bayesian approach in a neutral and agnostic manner. My main theme is that Bayesian data analysis is an effective tool for handling complex models, as proven by the increasing proportion of Bayesian studies in the applied sciences. I thus disregard the philosophical debates on the meaning of probability and on the random nature of parameters as things of the past that ultimately do a disservice to the approach and are irrelevant to most bystanders.