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Estimation of a Bernouilli parameter: A normative approach to replace the Bayesian one

✍ Scribed by Jean-François Laslier

Publisher
Springer US
Year
1989
Tongue
English
Weight
289 KB
Volume
26
Category
Article
ISSN
0040-5833

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✦ Synopsis

The paper deals with the problem of the estimation of an unknown probability from a finite number of experiments. We propose a normative (axiomatic) solution that restricts the class of admissible estimators to a one-parameter family. Moreover this solution coincides with the one obtained from Bayes theory with a /3 prior. Thus our results can be interpreted as a justification for the use of Bayesian inference with a/3 prior.

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