Bayes and Richard Price on Predictions

Bayes’s much more famous work, “An Essay toward Solving a Problem in the Doctrine of Chances,”24 was not published until after his death, when it was brought to the Royal Society’s attention in 1763 by a friend of his named Richard Price. It concerned how we formulate probabilistic beliefs about the world when we encounter new data. Price, in framing Bayes’s essay, gives the example of a person who emerges into the world (perhaps he is Adam, or perhaps he came from Plato’s cave) and sees the...