The speed prior is a complexity measure similar to Kolmogorov complexity, except that it is based on computation speed as well as program length.
[1] The speed prior complexity of a program is its size in bits plus the logarithm of the maximum time we are willing to run it to get a prediction.
When compared to traditional measures, use of the Speed Prior has the disadvantage of leading to less optimal predictions, and the advantage of providing computable predictions.
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