2 results for “Bayesian updating”

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Research ArticleOpen accessPhrase in the titleA Laboratory Study of Bayesian Updating in Small Feedback-Based Decision ProblemsTakemi Fujikawa, Sobei H. OdaThis study explores small feedback-based decision problems experimentally. Conducted were the experiments in which the decision-maker’s payoff distribution was limited to either favorable distribution or unfavorable distribution. The first remarkable observation revealed complexity/loss aversion in the experiment. The second observation included the law of small numbers. Deviations from maximization were also observed. Finally, we investigated the imperfect Bayesian decision-makers observed … …American Journal of Applied Sciences, Vol. 2, Issue 7 · 31 Jul 2005 · 6,754 accessesView PDF Cite

Research ArticleOpen accessIn the abstractBayesian Methods for Ranking the Severity of Apnea among PatientsNur Zakiah Mohd Saat, Kamarulzaman Ibrahim, Abdul Aziz JemainProblem statement: Studies on apnea patients are often carried out based on data obtained from the sleep study. This data is quite scarce since high cost is required for conducting the study. Bayesian method is particularly suitable for analyzing limited data as it allows for updating of information by combining the current information with the prior belief. Approach: In this … …American Journal of Applied Sciences, Vol. 7, Issue 2 · 28 Feb 2010 · 7,550 accessesView PDF Cite