An Original and Additional Mathematical Model Characterizing a Bayesian Approach to Decision Theory

Angelini Pierpaolo

Journal of Mathematics Research, 2019, vol. 11, issue 3, 1-13

Abstract: We propose an original mathematical model according to a Bayesian approach explaining uncertainty from a point of view connected with vector spaces. A parameter space can be represented by means of random quantities by accepting the principles of the theory of concordance into the domain of subjective probability. We observe that metric properties of the notion of $\alpha$-product mathematically fulfill the ones of a coherent prevision of a bivariate random quantity. We introduce fundamental metric expressions connected with transformed random quantities representing changes of origin. We obtain a posterior probability law by applying the Bayes' theorem into a geometric context connected with a two-dimensional parameter space.

Keywords: vector space; parameter space; antisymmetric tensor; α-product; α-norm; change of origin (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ibn:jmrjnl:v:11:y:2019:i:3:p:1

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