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BGonline.org Forums
A better approch? [LONG]
Posted By: Timothy Chow In Response To: A better approch? [LONG] (MaX)
Date: Thursday, 5 November 2009, at 3:47 p.m.
MaX wrote:
My understanding (please correct if wrong) is that the advantage of the Bayesian approach is the fact it gives the direct answer to the question "How sure we are the top play is really better than the others". The jsd approach (or confidence interval approach) gives an answer to a somehow related question (but not exactly to our question).
Yes, very nicely put.
By the way, Xavier was a bit concerned about the "lack of enthusiasm" for his proposal. Just to be explicit, I am enthusiastic about it. I am posting heavily to this thread not to be argumentative, but because I think this is a great feature and I want to help "get the math right." JSD is much harder for the non-math-geek to understand than percentages, so it is absolutely a good feature to report percentages if you can.
Now I'm wondering if keeping the current approach but showing the CI% instead of the jsds is not just enough for our goal.
I personally think this is fine. However, Xavier's slightly more ambitious proposal does have the advantage of being closer to people's intuition. If one sees "5%" next to a play, one's instinct is to think, "there's a 5% chance that this is the best play."
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