Summary
In this paper the likelihood function is considered to be the primary source of the objectivity of a Bayesian method. The necessity of using the expected behavior of the likelihood function for the choice of the prior distribution is emphasized. Numerical examples, including seasonal adjustment of time series, are given to illustrate the practical utility of the common-sense approach to Bayesian statistics proposed in this paper.
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Akaike, H. (1998). Likelihood and the Bayes procedure. In: Parzen, E., Tanabe, K., Kitagawa, G. (eds) Selected Papers of Hirotugu Akaike. Springer Series in Statistics. Springer, New York, NY. https://doi.org/10.1007/978-1-4612-1694-0_24
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DOI: https://doi.org/10.1007/978-1-4612-1694-0_24
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