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First things first: What is a base rate?
Published online by Cambridge University Press: 04 February 2010
Abstract
The fallacy beneath the base rate fallacy is that we know what a base rate is. We talk as if base rates and individuating information were two different kinds of information. From a Bayesian perspective, however, the only difference between base rate and individuating information is – which comes first.
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- Copyright © Cambridge University Press 1996
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