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Approximating de Finetti's measures for partially exchangeable sequences

✍ Scribed by Alessandra Guglielmi; Eugenio Melilli

Book ID
104301390
Publisher
Elsevier Science
Year
2000
Tongue
English
Weight
107 KB
Volume
48
Category
Article
ISSN
0167-7152

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✦ Synopsis

We show how to approximate de Finetti's measure of a partially exchangeable sequence by a mixture of products of Dirichlet measures, explicitly built once the approximation error has been ÿxed. These results are used to give a general method for the elicitation of prior distributions corresponding to partially exchangeable sequences, when prior information essentially derive from available data relative to phenomena similar to that we consider.

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