Better priors for Bayesian bettors

Dean Isaacson; Glen Meeden

doi:10.1111/j.1467-842X.1984.tb00449.x

Better priors for Bayesian bettors

Dean Isaacson, Glen Meeden

Statistics (Twin Cities)

Research output: Contribution to journal › Article › peer-review

Abstract

Consider the game where a Bayesian investor places a series of bets on the outcomes of a sequence of tosses of a coin with odds set by a Bayesian bookie. It is shown that at each toss the investor can have non‐negative expected winnings even though after many tosses the two posterior distributions are nearly equivalent. Copyright © 1984, Wiley Blackwell. All rights reserved

Original language	English
Pages (from-to)	263-271
Number of pages	9
Journal	Australian Journal of Statistics
Volume	26
Issue number	3
DOIs	https://doi.org/10.1111/j.1467-842X.1984.tb00449.x
State	Published - 1984

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10.1111/j.1467-842X.1984.tb00449.x

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abstract = "Consider the game where a Bayesian investor places a series of bets on the outcomes of a sequence of tosses of a coin with odds set by a Bayesian bookie. It is shown that at each toss the investor can have non‐negative expected winnings even though after many tosses the two posterior distributions are nearly equivalent. Copyright {\textcopyright} 1984, Wiley Blackwell. All rights reserved",

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Better priors for Bayesian bettors

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