Statistical Inference as a Bargaining Game

Author/Editor:

Eduardo Ley

Publication Date:

May 20, 2002

Electronic Access:

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Summary:

This paper extends the analogy, previously established by Learner (1978a), between a Bayesian inference problem and an economics allocation problem to show that posterior modes can be interpreted as optimal outcomes of a bargaining game. This bargaining game, over a parameter value, is played between two players: the researcher (with preferences represented by the prior) and the data (with preferences represented by the likelihood).

Series:

Working Paper No. 2002/081

Subject:

English

Publication Date:

May 20, 2002

ISBN/ISSN:

9781451850376/1018-5941

Stock No:

WPIEA0812002

Pages:

13

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