Michael Goldstein
Prior viability assessment for Bayesian analysis
Goldstein, Michael; Seheult, Allan H.
Authors
Allan H. Seheult
Abstract
We address the problem of determining whether the cost of a proposed Bayesian analysis is likely to be justified by the potential benefit. A method is described for identifying the likely order of magnitude benefits from the analysis, and this approach is applied to an example concerning trading on the sugar market.
Citation
Goldstein, M., & Seheult, A. H. (2008). Prior viability assessment for Bayesian analysis. Journal of Statistical Planning and Inference, 138(5), 1271-1286. https://doi.org/10.1016/j.jspi.2007.04.023
Journal Article Type | Article |
---|---|
Online Publication Date | May 1, 2008 |
Publication Date | May 1, 2008 |
Deposit Date | Feb 15, 2008 |
Journal | Journal of Statistical Planning and Inference |
Print ISSN | 0378-3758 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 138 |
Issue | 5 |
Pages | 1271-1286 |
DOI | https://doi.org/10.1016/j.jspi.2007.04.023 |
Keywords | Bayes linear analysis, Commodity trading, Preposterior analysis, Price forecasting, Random walk, Temporal sure preference, Value of analysis. |
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