M. Farrow
Trade-off sensitive experimental design: a multicriterion, decision theoretic, Bayes linear approach
Farrow, M.; Goldstein, M.
Abstract
We show how mutually utility independent hierarchies, which weigh the various costs of an experiment against benefits expressed through a mixed Bayes linear utility representing the potential gains in knowledge from the experiment, provide a flexible and intuitive methodology for experimental design which remains tractable even for complex multivariate problems. A key feature of the approach is that we allow imprecision in the trade-offs between the various costs and benefits. We identify the Pareto optimal designs under the imprecise specification and suggest a criterion for selecting between such designs. The approach is illustrated with respect to an experiment related to the oral glucose tolerance test.
Citation
Farrow, M., & Goldstein, M. (2006). Trade-off sensitive experimental design: a multicriterion, decision theoretic, Bayes linear approach. Journal of Statistical Planning and Inference, 136(2), 498-526. https://doi.org/10.1016/j.jspi.2004.07.008
Journal Article Type | Article |
---|---|
Publication Date | 2006-02 |
Deposit Date | Apr 26, 2007 |
Publicly Available Date | Feb 24, 2010 |
Journal | Journal of Statistical Planning and Inference |
Print ISSN | 0378-3758 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 136 |
Issue | 2 |
Pages | 498-526 |
DOI | https://doi.org/10.1016/j.jspi.2004.07.008 |
Keywords | Imprecise utility, Multi-attribute utility, Pareto optimality, Oral glucose tolerance test. |
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