Bayesian Simulation and Decision Analysis: An Expository Survey

Jason R. W. Merrick ()
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Jason R. W. Merrick: Department of Statistical Sciences and Operations Research, Virginia Commonwealth University, Richmond, Virginia 23284

Decision Analysis, 2009, vol. 6, issue 4, 222-238

Abstract: The aim of this expository survey on Bayesian simulation is to stimulate more work in the area by decision analysts. We discuss the main areas of research performed thus far, including input analysis, propagation and estimation of output uncertainty, output analysis, making decisions with simulations, selecting the best simulated system, and applications of Bayesian simulation methods. Throughout, we offer avenues of future research in Bayesian simulation that may be of interest to decision analysts.

Keywords: simulation; Bayesian statistics; decision analysis (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ordeca:v:6:y:2009:i:4:p:222-238

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