Estimating the Loss of Estimators of a Binomial Parameter
Copyright policy )Estimating the Loss of Estimators of a Binomial Parameter
A loss function is introduced, which combines the estimation error of a statistical procedure with a measure of its accuracy. The properties of this loss function are illustrated by the estimator of a binomial parameter. The choice of a conjugate prior distribution is discussed from this point of view. It is shown that there exists a unique beta prior with a conservatively biased accuracy estimate.
- University of Massachusetts System United States
- University of Massachusetts Amherst United States
minimax estimator, Point estimation, unique beta prior, loss function, Bayesian problems; characterization of Bayes procedures, unbiased estimator, posterior loss, binomial parameter, estimation error, conjugate prior distribution, accuracy estimate
minimax estimator, Point estimation, unique beta prior, loss function, Bayesian problems; characterization of Bayes procedures, unbiased estimator, posterior loss, binomial parameter, estimation error, conjugate prior distribution, accuracy estimate
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