Credibility Procedures- La Place's Generalization of Bayes' Rule and the Combination of Collateral Knowledge with Observed Data [Discussion]

The privilege of discussing Mr. Bailey's paper is indeed gratifying to one who is not a member of the Casualty Actuarial Society. Moreover, the paper under consideration is of particular interest to one who, for nearly four decades, has been applying inverse probability formulas to problems confronting another great industry.