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ALTERNATE PRIOR DISTRIBUTIONS IN STATISTICAL DECISION THEORY
OPERATIONS ANALYSIS OFFICE (AIR FORCE) WASHINGTON D C
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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
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