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New Insights into Bayesian Inference

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ISBN: 9781789230925 9781789230932 Year: Pages: 140 DOI: 10.5772/intechopen.70722 Language: English
Publisher: IntechOpen
Subject: Mathematics
Added to DOAB on : 2019-10-03 07:51:51

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Abstract

This book is an introduction to the mathematical analysis of Bayesian decision-making when the state of the problem is unknown but further data about it can be obtained. The objective of such analysis is to determine the optimal decision or solution that is logically consistent with the preferences of the decision-maker, that can be analyzed using numerical utilities or criteria with the probabilities assigned to the possible state of the problem, such that these probabilities are updated by gathering new information.

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