Decision Theory Applied to Selecting the Winners, Ranking, and Classification

Nicholas Tibor Longford
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Nicholas Tibor Longford: Imperial College London

Journal of Educational and Behavioral Statistics, 2016, vol. 41, issue 4, 420-442

Abstract: We address the problem of selecting the best of a set of units based on a criterion variable, when its value is recorded for every unit subject to estimation, measurement, or another source of error. The solution is constructed in a decision-theoretical framework, incorporating the consequences (ramifications) of the various kinds of error that can be committed. The related problems of classifying the units to a small number of groups and ranking them are solved by a similar approach. An application is presented involving retention rates in the undergraduate courses of a university.

Keywords: classification; decision theory; empirical Bayes; latent score; league table; loss function (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jedbes:v:41:y:2016:i:4:p:420-442

DOI: 10.3102/1076998616644991

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