Simultaneous Inference in Risk Assessment; a Bayesian Perspective

Leonhard Held ()
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Leonhard Held: University of Munich, Department of Statistics

A chapter in COMPSTAT 2004 — Proceedings in Computational Statistics, 2004, pp 213-222 from Springer

Abstract: Abstract We consider the problem of making simultaneous inferential statements in risk assessment from a Bayesian perspective. We review a generic algorithm for computing a two-sided simultaneous credible band based on Monte Carlo samples from a multidimensional posterior distribution. A simple modification leads to an upper or lower simultaneous credible bound, which will be described. Such simultaneous credible bands and bounds have attractive properties: they are easy to calculate, completely non-parametric and invariant to monotone component-wise transformations of the variables. We illustrate the proposed approach through an example from low-dose risk estimation, previously analysed in the literature with frequentist methods.

Keywords: Risk assessment; Monte Carlo; simultaneous credible bands; simultaneous inference (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-7908-2656-2_17

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DOI: 10.1007/978-3-7908-2656-2_17

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