Approximate exchangeability and de Finetti priors in 2022. (8th October 2022)

• Record Type: Journal Article
• Authors: Diaconis, Persi
• Is Part Of: Scandinavian journal of statistics. Volume 50:Number 1(2023)
• Page Start: 38
• Page End: 53
• Publication Date: 2022-10-08
• Subjects: algebraic statistics -- Bayesian statistics -- de Finetti's theorem -- informative priors -- partial exchangeability; Statistics -- Periodicals; 310
• DOI: 10.1111/sjos.12609
• Languages: English
• ISSNs: 0303-6898

Abstract

Abstract: This is a review paper, beginning with de Finetti's work on partial exchangeability, continuing with his approach to approximate exchangeability, and then his (surprising) approach to assigning informative priors in nonstandard situations. Recent progress on Markov chain Monte Carlo methods for drawing conclusions is supplemented by a review of work by Gerencsér and Ottolini on getting honest bounds for rates of convergence. The paper concludes with a speculative approach to combining classical asymptotics with Monte Carlo. This promises real speed‐ups and makes a nice example of how theory and computation can interact.