... if α≤2, and infinite mean if and only if α≤1. To make the implications of Knightian uncertainty especially poignant, we will assume further that: Risk analysis Uncertainty management Bayesian statistical decision theory In his influential 1921 treatise, Risk, Uncertainty...

..., and Diaconis and Ylvisaker (1979) provided the associated necessary conditions. Michael R. Powers can be contacted at: michael.powers@temple.edu © Emerald Group Publishing Limited 2008 Bayesian statistical decision theory Statistical analysis Information audit Estimation...

... challenges certain aspects of the “scientific method” as employed in the practice of modern science. © Emerald Group Publishing Limited 2007 Scientific management Philosophy Bayesian statistical decision theory This editorial is the second of a two‐part critique of the scientific method (SM...

... separate and competing loss forecasts from commercial insurance buyers (desiring low premiums) and sellers (desiring high premiums), respectively. Financial forecasting Bias Bayesian statistical decision theory © Emerald Group Publishing Limited 2005 To establish each player's...