Bayes Decision Rules Based on Objective Priors. Part I. Formulation and Application. Part 2. Justification
PURDUE UNIV LAFAYETTE IN SCHOOL OF ELECTRICAL ENGINEERING
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The problem of statistical decision making under uncertainty is considered. A Bayes approach based upon prior probabilities which are found using an objective inference technique developed by R. L. Kashyap is proposed as the basic solution procedure. The problem is formulated in a statistical decision theory format and the general solution technique outlined. Several examples are solved to illustrate its application. Using this inference technique, it is possible to have different priors for different experiments. A general decision criterion is formulated to handle these situations.
- Statistics and Probability
- Operations Research