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Permanent URL	http://hdl.lib.byu.edu/1877/1032
Title	Convex Bayes decision theory
BYU Creator	Stirling, Wynn C.
Creator	Morrell, Darryl
Keywords	Bayes methods; decision theory; probability
Description/Abstract	The basic concepts of Levi's epistemic utility theory and credal convexity are presented. Epistemic utility, in addition to penalizing error as is done with traditional Bayesian decision methodology, permits a unit of informational value to be distributed among the hypotheses of a decision problem. Convex Bayes decision theory retains the conditioning structure of probability-based inference, but addresses many of the objections to Bayesian inference through relaxation of the requirement for numerically definite probabilities. The result is a decision methodology that stresses avoiding errors and seeks decisions that are likely to be highly informative as well as true. By relaxing the mandatory requirement for unique decisions and point estimates in all cases, decision and estimation criteria that do not demand more than is possible to obtain from the data and permit a natural man-in-the-loop interface are obtained. Applications are provided to illustrate the theory.
Source	Stirling, W. C., and D. R. Morrell. "Convex Bayes Decision Theory." Systems, Man and Cybernetics, IEEE Transactions on 21.1;
Publisher	IEEE
Date Original	1991-02
Language	English eng en
Publication Type	Peer-Reviewed Articles
Type	Text
Format	application/pdf
Owning Institution	Brigham Young University
BYU College	Ira A. Fulton College of Engineering and Technology
BYU Department	Electrical and Computer Engineering
Copyright Status	(c) 1991 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.;
Copyright Use Information	http://www.lib.byu.edu/generic_copyright.html

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