Statistical Decision Theory

Nonfiction, Science & Nature, Mathematics, Statistics
Cover of the book Statistical Decision Theory by Nicholas T. Longford, Springer Berlin Heidelberg
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Author: Nicholas T. Longford ISBN: 9783642404337
Publisher: Springer Berlin Heidelberg Publication: October 17, 2013
Imprint: Springer Language: English
Author: Nicholas T. Longford
ISBN: 9783642404337
Publisher: Springer Berlin Heidelberg
Publication: October 17, 2013
Imprint: Springer
Language: English

This monograph presents a radical rethinking of how elementary inferences should be made in statistics, implementing a comprehensive alternative to hypothesis testing in which the control of the probabilities of the errors is replaced by selecting the course of action (one of the available options) associated with the smallest expected loss.

Its strength is that the inferences are responsive to the elicited or declared consequences of the erroneous decisions, and so they can be closely tailored to the client’s perspective, priorities, value judgments and other prior information, together with the uncertainty about them.

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This monograph presents a radical rethinking of how elementary inferences should be made in statistics, implementing a comprehensive alternative to hypothesis testing in which the control of the probabilities of the errors is replaced by selecting the course of action (one of the available options) associated with the smallest expected loss.

Its strength is that the inferences are responsive to the elicited or declared consequences of the erroneous decisions, and so they can be closely tailored to the client’s perspective, priorities, value judgments and other prior information, together with the uncertainty about them.

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