Introduction to Statistical Decision Theory

Pratt, John W.; Raiffa, Howard; Schlaifer, Robert

ISBN 10: 0262161443 / ISBN 13: 9780262161442

Edité par Mit Pr (edition First Edition), 1995

A propos de cet article

It's a well-cared-for item that has seen limited use. The item may show minor signs of wear. All the text is legible, with all pages included. It may have slight markings and/or highlighting.

N° de réf. du vendeur 0262161443-11-1

Détails bibliographiques

• Titre: Introduction to Statistical Decision Theory
• Éditeur: Mit Pr (edition First Edition)
• Date de parution: 1995
• Langue: anglais
• ISBN à 10 chiffres: 0262161443
• ISBN à 13 chiffres: 9780262161442
• Reliure: Hardcover
• Édition: First Edition.
• État de l'article: Very Good

A propos de ce titre

Synopsis

The Bayesian revolution in statistics—where statistics is integrated with decision making in areas such as management, public policy, engineering, and clinical medicine—is here to stay. Introduction to Statistical Decision Theory states the case and in a self-contained, comprehensive way shows how the approach is operational and relevant for real-world decision making under uncertainty.

Starting with an extensive account of the foundations of decision theory, the authors develop the intertwining concepts of subjective probability and utility. They then systematically and comprehensively examine the Bernoulli, Poisson, and Normal (univariate and multivariate) data generating processes. For each process they consider how prior judgments about the uncertain parameters of the process are modified given the results of statistical sampling, and they investigate typical decision problems in which the main sources of uncertainty are the population parameters. They also discuss the value of sampling information and optimal sample sizes given sampling costs and the economics of the terminal decision problems.

Unlike most introductory texts in statistics, Introduction to Statistical Decision Theory integrates statistical inference with decision making and discusses real-world actions involving economic payoffs and risks. After developing the rationale and demonstrating the power and relevance of the subjective, decision approach, the text also examines and critiques the limitations of the objective, classical approach.

À propos de l?auteur

John Pratt is Professor Emeritus of Business Administration at Harvard Business School.