What are the main challenges of Bayesian analysis?

What are the main challenges of Bayesian analysis?

Some key challenges include computational complexity, prior selection, and model uncertainty.

Can you explain why prior selection is a challenge?

Prior selection can significantly influence results, and choosing an appropriate prior is often subjective.

How does computational complexity affect Bayesian analysis?

Computational complexity arises from the need for methods like Markov Chain Monte Carlo, which can be resource-intensive.

Are there any strategies to overcome these challenges?

Yes, using advanced algorithms, sensitivity analysis, and robust prior selection can help mitigate these issues.