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Introduction to Statistical Decision Theory by Robert Schlaifer, John Pratt, Howard Raiffa (Paperback, 2008)

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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.

Product Identifiers

Publisher
MIT Press Ltd
ISBN-13
9780262662062
eBay Product ID (ePID)
96015195

Product Key Features

Author
Robert Schlaifer, John Pratt, Howard Raiffa
Publication Name
Introduction to Statistical Decision Theory
Format
Paperback
Language
English
Subject
Economics
Publication Year
2008
Type
Textbook
Number of Pages
896 Pages

Dimensions

Item Height
254mm
Item Width
178mm
Item Weight
1474g

Additional Product Features

Title_Author
Robert Schlaifer, John Pratt, Howard Raiffa
Series Title
The MIT Press
Country/Region of Manufacture
United States

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Introduction to Statistical Decision Theory by Robert Schlaifer, John Pratt, Howard Raiffa (Paperback, 2008)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Australian Native Bee Book: Keeping Stingless Bee Hives for Pets, Pollination and Sugarbag Honey by Tim Heard (Paperback, 2015)

The Weed Forager's Handbook: A Guide to Edible and Medicinal Weeds in Australia by Adam Grubb, Annie Raser-Rowland (2012, Paperback)

Permaculture: A Designer's Manual by Bill Mollison (Hardcover, 1988)

The Falsification of History: Our Distorted Reality by John Hamer (Paperback, 2013)

In-Basket Case Studies by Guy Adamson (Paperback, 1986)

Empire of the Summer Moon: Quanah Parker and the Rise and Fall of the Comanches, the Most Powerful Indian Tribe in American History by S.C. Gwynne (Paperback, 2011)

Botanical Field Guide by Stefan Mager (Fold-out book or chart, 2021)

Save on Adult Learning & University

Netter Atlas of Human Anatomy: Classic Regional Approach

Havard's Nursing Guide to Drugs

Steven Holzner Physics Essentials For Dummies (Paperback)

T. Jared Bunch Matthew LaPlante John D. Day The AFib Cure (Paperback)

Care of People with Diabetes: A Manual for Healthcare Practice

The Fourth Turning By Neil Howe, William Strauss

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