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It depends on if that's a realistic example or a toy example. Dreaded Anomaly Send a noteboard - 04/12/2011 05:32:34 PM
In the stereotypical example of reaching into a bag full of green and red marbles and withdrawing a marble, what's the proper representation of probability that the marble will be green or red? Do probabilistic functions like that just have limits approaching 100%?


In toy examples of probabilistic situations, we can consider all the information known, and then 100% seems like a legitimate probability. In reality, though, there is always some chance (maybe exponentially tiny, but still there) that we have some of the information wrong: maybe a cosmic ray hit one of our neurons, or one of our friends gave us a marble that spontaneously changes color just to mess with us. In this case, log-odds will helpfully differentiate between "very confident" and "infinitely confident." The amount of evidence we have is, by necessity, finite, so we must always leave room for our confidence to decrease when we get new information.

A few references for log-odds:
http://www.ncssm.edu/courses/math/Talks/PDFS/LOGODDS.pdf
http://dl.dropbox.com/u/34547557/log-probability.pdf

The first one uses an example of picking marbles to determine which of two barrels we have, if the distributions of marbles within the barrels is "known." The idea of "(deci)bels of evidence" becomes useful when considering this formulation.
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I have a question about log-odds formulation. - 04/12/2011 06:36:02 AM 303 Views
It depends on if that's a realistic example or a toy example. - 04/12/2011 05:32:34 PM 347 Views
That's pretty much what I thought. I meant in a toy example. - 04/12/2011 10:17:47 PM 297 Views
That's how I would use it, anyway. - 04/12/2011 10:41:01 PM 302 Views
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