Dynamic nested sampling: an improved algorithm for parameter estimation and evidence calculation

We introduce dynamic nested sampling: a generalisation of the nested sampling algorithm in which the number of "live points" varies to allocate samples more efficiently. In empirical tests the new method increases accuracy by up to a factor of ~8 for parameter estimation and ~3 for evidence calculation compared to standard nested sampling with the same number of samples - equivalent to speeding up the computation by factors of ~64 and ~9 respectively. In addition unlike in standard nested sampling more accurate results can be obtained by continuing the calculation for longer. Dynamic nested sampling can be easily included in existing nested sampling software such as MultiNest and PolyChord.