For one thing, it’ll change how we update. Suppose the coin lands heads ten times in a row. If we have independent knowledge that it’s fair, we’ll still assign 0.5 credence to the next toss. Otherwise, if we began in a state of pure ignorance, we might start to suspect that the coin is biased, and so have difference expectations.
For one thing, it’ll change how we update. Suppose the coin lands heads ten times in a row. If we have independent knowledge that it’s fair, we’ll still assign 0.5 credence to the next toss. Otherwise, if we began in a state of pure ignorance, we might start to suspect that the coin is biased, and so have difference expectations.
That is true, but in the scenario, you never learn the result of a coin flip to update on. So why does it matter?