A Priori Distribution Selection Based on Bayesian Decision-Making
Pengfei Shi · Economic Research Guide · 2009
Through introducing the loss function and the risk function,choosing one reasonable prior distribution was regarded as a Bayesian decision-making question.In the cirumstances of the 0-1loss function,posterior likehood reasonable prior was the minium risk reasonable prior which was proposed.In addition,under certain condition,ML-Ⅱprior and the minium risk reasonable prior was equal.