ALTERNATE PRIOR DISTRIBUTIONS IN STATISTICAL DECISION THEORY

Abstract

To remove the apparent arbitrariness in choice of a single prior distribution for a decisiontheory calculation, it is feasible to assume several alternate prior distributions, and assess the results of reasonable policies, under each of those prior distributions. The minimax-regret principle, slightly modified, permits us to make a reasonable decision in view of the spectrum of possibilities. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jun 01, 1962
Accession Number
AD0276633

Entities

People

  • John P. Mayberry

Tags

DTIC Thesaurus Topics

  • Data Science
  • Decision Theory
  • Information Science
  • Spectra
  • Statistical Decision Theory

Readers

  • Statistical inference.
  • Theoretical Analysis.