..., the distinction between risk and uncertainty is necessary only in highly abstract epistemological modeling. Risk analysis Uncertainty management Bayesian statistical decision theory Michael R. Powers can be contacted at: michael.powers@temple.edu © Emerald Group Publishing Limited 2010...

... on the development of science. Bayesian statistical decision theory Statistical analysis Information audit Estimation Conventional methods of statistical inference rely on the fundamental concept of a random variable – a mathematical quantity characterized by two properties: 1...

... Scientific management Philosophy Bayesian statistical decision theory This editorial is the second of a two‐part critique of the scientific method (SM) as it is commonly practiced. In the first part (Powers, 2007), I addressed the problem of inconsistencies in the way the SM is applied, and argued...

....) © Emerald Group Publishing Limited 2005 Financial forecasting Bias Bayesian statistical decision theory In forecasting unknown quantities, risk and finance decision makers often rely on one or more biased experts, statistical specialists representing parties with an interest...