My intuition was that the prior probability of head and tails hypotheses should be 50% each. Since existence is not evidence to update in favour of any of these theories, being 100% likely under both, we end up with the 1:1 odds ratio.
My intuition was that the prior probability of head and tails hypotheses should be 50% each. Since existence is not evidence to update in favour of any of these theories, being 100% likely under both, we end up with the 1:1 odds ratio.