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When working in the context of multiple priors models the situation becomes more involved.
We consider an aggregation scheme of opinions expressed through different probability distributions or multiple priors decision model.
We characterize the pricing policies under two distinct decision criteria with multiple priors: (i) maximin utility and (ii) minimax regret.
A non-dominated multiple priors approach to model uncertainty (ambiguity) leads to worst-case good-deal bounds.
In other words, we move our uncertainty one level up in a hierarchy: we consider multiple priors over the statistical hypotheses, and compare the performance of these priors on the sample data as if the priors were themselves hypotheses.
The research has been challenging (and fruitful) since one has to deal (in a probabilistic setup) with families of non-dominated probability measures, also called multiple priors, that can be mutually singular.
Similar(51)
For some crimes and for offenders with multiple prior convictions, redemption takes considerably longer.
Five patients (seven tibias) complained of multiple prior episodes of patellar dislocation.
In women with multiple prior cesarean deliveries (CDs), vertical skin incisions are thought by some to result in better outcomes.
Note that if multiple prior types are used, as is the case in our scenario, Equation 5 contains one likelihood term for each prior type.
Prior studies have shown that the MAC layer wireless channels generally exhibit high-order dependence structure in which each bit is dependent on multiple prior bits [19, 20].
Related(20)
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com