Better priors for Bayesian bettors

Dean Isaacson, Glen Meeden

Research output: Contribution to journalArticlepeer-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 languageEnglish
Pages (from-to)263-271
Number of pages9
JournalAustralian Journal of Statistics
Volume26
Issue number3
DOIs
StatePublished - 1984

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