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Objective Bayesian Inference

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English | 2024 | ISBN: 9811284903 | 381 pages | True PDF | 46.99 MB




Bayesian analysis is today understood to be an extremely powerful method of statistical analysis, as well an
approach to statistics that is particularly transparent and intuitive. It is thus being extensively and increasingly
utilized in virtually every area of science and society that involves analysis of data.A widespread misconception is
that Bayesian analysis is a more subjective theory of statistical inference than what is now called classical
statistics. This is true neither historically nor in practice. Indeed, objective Bayesian analysis dominated the
statistical landscape from roughly 1780 to 1930, long before 'classical' statistics or subjective Bayesian analysis were
developed. It has been a subject of intense interest to a multitude of statisticians, mathematicians, philosophers, and
scientists. The book, while primarily focusing on the latest and most prominent objective Bayesian methodology, does
present much of this fascinating history.The book is written for four different audiences. First, it provides an
introduction to objective Bayesian inference for non-statisticians; no previous exposure to Bayesian analysis is needed.
Second, the book provides an overview of the development and current state of objective Bayesian analysis and its
relationship to other statistical approaches, for those with interest in the philosophy of learning from data. Third,
the book presents a careful development of the particular objective Bayesian approach that we recommend, the reference
prior approach. Finally, the book presents as much practical objective Bayesian methodology as possible for
statisticians and scientists primarily interested in practical applications.

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