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Estimation of a Bernouilli parameter: A normative approach to replace the Bayesian one (1989)

Laslier, Jean-François

Springer

Theory and decision 26 (1989), S. 253-262

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ISSN: 1573-7187

Keywords: Bernouilli's law ; Bayesian estimation ; prior distribution ; Laplace theory of probability

Source: Springer Online Journal Archives 1860-2000

Topics: Sociology , Economics

Notes: Abstract 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 β prior. Thus our results can be interpreted as a justification for the use of Bayesian inference with a β prior.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1007/BF00134108

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