Computational Inference

Nick Heard ()
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Nick Heard: Imperial College London

Chapter 5 in An Introduction to Bayesian Inference, Methods and Computation, 2021, pp 39-60 from Springer

Abstract: Abstract In Sect. 1.5 , estimation and prediction were presented as Bayesian decision problems. Given a subjective probability distribution for an unknown quantity and a subjectively chosen utility or loss function, the Bayes estimate was shown to be the value which maximises expected utility or equivalently minimises expected loss. Obtaining this estimate apparently requires two stages of calculation: obtaining an analytic expression for the subjective probability distribution and then using this distribution to calculate expectations.

Date: 2021
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DOI: 10.1007/978-3-030-82808-0_5

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