In this paper, I evaluate the claim that the equivalence of multiple intensionally distinct definitions of random sequence provides evidence for the claim that these definitions capture the intuitive conception of randomness, concluding that the former claim is false. I then develop an alternative account of the significance of randomness-theoretic equivalence results, arguing that they are instances of a phenomenon I refer to as schematic equivalence. On my account, this alternative approach has the virtue of providing the plurality of definitions (...) of randomness with conceptual unity and a rationale for certain investigations that are carried out in the field. (shrink)

Suppose that we have a method which estimates the conditional probabilities of some unknown stochastic source and we use it to guess which of the outcomes will happen. We want to make a correct guess as often as it is possible. What estimators are good for this? In this work, we consider estimators given by a familiar notion of universal coding for stationary ergodic measures, while working in the framework of algorithmic randomness, i.e., we are particularly interested in prediction of (...) Martin-Löf random points. We outline the general theory and exhibit some counterexamples. Completing a result of Ryabko from 2009 we also show that universal probability measure in the sense of universal coding induces a universal predictor in the prequential sense. Surprisingly, this implication holds true provided the universal measure does not ascribe too low conditional probabilities to individual symbols. As an example, we show that the Prediction by Partial Matching measure satisfies this requirement with a large reserve. (shrink)