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Knowledge Updating: Bayes' Theorem

Reference: ADN-250-E
Number of pages: 14
Publication Date: Oct 2, 1998
Source: IESE (España)
Type of Document: Technical Note

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Description

This technical note describes how new information gets integrated in our existing knowledge. The Bayes theorem is used as the theoretical foundation for the note. The process of knowledge updating starts with prior knowledge and what to expect from new information, the new information is received which is interpreted and integrated to for updated knowledge. Each step is illustrated with examples and an appendix gives the mathematics for the Bayes theorem.