Although I generally agree with the article, I believe the use of its approach requires a certain amount of caution.
People's prior assessments are based not just on evidence but on their values and views. For example, executives at a company developing a product may well have a rosier subjective assessment of the product's success chances than outside analysts. The article's approach depends on assuming that introducing priors will result in a more skeptical prior assessment and hence a higher, and in the author's view more realistic, hurdle needing to be met by the evidence observed in the trial.
But the exact opposite could occur under the same theory. Rosier prior assessments tend to result in lower observational hurdles, collecting less evidence to reach conclusions. When we combine a tendency for business executives to be optimistic about the success of their own projects with a tendency to believe theories that result in reducing costs, a more subjective approach may have the unintended effect of increasing rather than decreasing the risks of failure.
I think it's reasonable to use a Bayesian approach when internally planning the success of trials. Optimistic assumptions can be stated and perhaps subjected to challenge in such a setting. Moreover, a company is not likely to ever repeat a trial, so an estimation of its success requires subjective factors. A Bayesian approach is a more realistic model of a company's actual decision process, including its biases. At the same time, it's understandable why government, and particularly the FDA, has been wary of approaches which may be subject to manipulation or the influence of over-optimistic assumptions.
Jonathan Siegel
Associate Director Clinical Statistics
Sent from my iPhone
Original Message------
I'd be curious to hear from some Bio Stats guys on this article.
Michael L. Mout, MS, Cstat, Csci
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