I am reading about the Likelihood Principle (https://en.wikipedia.org/wiki/Likelihood_principle).
In short, I think the Likelihood Principle discusses the phenomena that if two experiments have the same underlying likelihood function, then even if these experiments result in different observed data - the parameter estimates will be the same in both experiments ... regardless of the fact that both experiments produced different data. That is, if two likelihoods are identical and only differ by some constant: optimizing these two likelihoods will give you the same parameter estimates. I am trying to understand why the Likelihood Principle is important.
Part 1: Here is an example from the Wikipedia Page:
Suppose we have two experiments involving independent Bernoulli trials with a probability of success on each trial given by $\theta$. In both experiments, we are interested in estimating $\theta$ based on the data we observe.
- In the first experiment, $X$ is the number of successes in twelve trials.
- In the second experiment, $Y$ is the number of trials needed to get three successes (Negative Binomial Distribution https://en.wikipedia.org/wiki/Negative_binomial_distribution)
The likelihood functions for these two experiments are given by:
For $X = 3$, the likelihood function is:
$$\mathcal{L}(\theta \mid X=3) = \binom{12}{3} \theta^3 (1-\theta)^9 = 220\theta^3(1-\theta)^9$$ For $Y = 12$, the likelihood function is:
$$\mathcal{L}(\theta \mid Y=12) = \binom{11}{2} \theta^3 (1-\theta)^9 = 55 \theta^3 (1-\theta)^9$$
We can see that one of these likelihoods is 4 times the other likelihood. This means that both likelihoods are essentially identical and only differ by a constant term.
Part 2: I tried to continue these examples by myself:
For $X = 3$, the likelihood function is: $\mathcal{L}(\theta \mid X=3) = 220 \theta^3 (1-\theta)^9$
For $Y = 12$, the likelihood function is: $\mathcal{L}(\theta \mid Y=12) = 55 \theta^3 (1-\theta)^9$
To find the MLE, take the derivative of the likelihood function with respect to $\theta$, set it equal to zero, and solve for $\theta$. For both likelihood functions, the derivative is (not that the constant terms in both likelihoods 220 and 55 would cancel out when you would try to solve for $\theta$):
$$\frac{d}{d\theta} \mathcal{L}(\theta) = 3\theta^2(1-\theta)^9 - 9\theta^3(1-\theta)^8$$ Setting this equal to zero gives:
$$3\theta^2(1-\theta)^9 - 9\theta^3(1-\theta)^8 = 0$$
We can factor out $\theta^2(1-\theta)^8$ from both terms:
$$\theta^2(1-\theta)^8 (3(1-\theta) - 9\theta) = 0$$
Setting each factor equal to zero gives the possible solutions for $\theta$:
- $\theta^2 = 0 \Rightarrow \theta = 0$
- $(1-\theta)^8 = 0 \Rightarrow \theta = 1$
- $3(1-\theta) - 9\theta = 0 \Rightarrow \theta = \frac{1}{4}$
The possible solutions for $\theta$ are 0, 1, and 1/4. However, $\theta=0$ and $\theta=1$ are likely not valid solutions because they imply that the event (observing a head) is either impossible or certain to happen. Therefore, the only likely valid solution is $\theta=1/4$.
Thus, we can see that both likelihoods produce the same estimate for $\theta$, thus demonstrating the Likelihood Principle.
My Question: But why is the Likelihood Principle important? The above exercise just showed me that the same likelihood function produces the same parameter estimates in different situations - Is this problematic? Is this useful? What is the big deal here? What is the big deal about the Likelihood Principle?
I have a feeling that the Likelihood Principle is trying to highlight some flaw about Likelihood theory - perhaps something about the uniqueness of parameter estimates from Maximum Likelihood Estimation ... or that the design of experiments is more important than the data collected from the experiments. But I am not sure.
Can someone please help me understand why the Likelihood Principle is important?
Thanks!