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stevendaryl said:In contrast, the methods of Bayesian statistics are indifferent as to the number of trials. You can get information from a single trial. You can get more information from 1000 trials, but there is no magic number of trials.
The results of Bayesian statistics are dependent on the number of trials. Regardless of the prior, even if it places an infinitesimally small probability over the true probability, as long as the prior is non-zero over the true hypothesis, the Bayesian will converge to the true probability.
Bayesian statistics is guaranteed to work if one knows in advance all possible hypotheses. Which is why it is beautiful, and also impractical - because if we did, we would already have a candidate non-perturbative definitions of all of string theory.
http://en.wikipedia.org/wiki/Bernstein–von_Mises_theorem
http://www.encyclopediaofmath.org/index.php/Bernstein-von_Mises_theorem
The other important theorem is the de Finetti representation theorem that allows Bayesians to be "effectively frequentist".
http://www.cs.berkeley.edu/~jordan/courses/260-spring10/lectures/lecture1.pdf
http://www.stats.ox.ac.uk/~steffen/teaching/grad/definetti.pdf
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