https://wiki.lesswrong.com/wiki/Solomonoff_induction http://lesswrong.com/lw/dhg/an_intuitive_explanation_of_solomonoff_induction/ should get you started.
Also Yudkowsky’s article on Occam’s Razor describes the Occam’s razor/ simplicity prior OP was interested in.
https://wiki.lesswrong.com/wiki/Solomonoff_induction http://lesswrong.com/lw/dhg/an_intuitive_explanation_of_solomonoff_induction/ should get you started.
Also Yudkowsky’s article on Occam’s Razor describes the Occam’s razor/ simplicity prior OP was interested in.