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Title: Nonparametric Predictive Utility Inference
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Keywords: Mathematics
Decision Analysis
Predictive Inference
Issue Date: 2012
Publisher: Elsevier
Citation: B. Houlding, F.P.A. Coolen, Nonparametric Predictive Utility Inference, European Journal of Operational Research, 2012
Series/Report no.: European Journal of Operational Research;
Abstract: We consider the natural combination of two strands of recent statistical research, i.e., that of decision making with uncertain utility and that of Nonparametric Predictive Inference (NPI). In doing so we present the idea of Nonparametric Predictive Utility Inference (NPUI), which is suggested as a possible strategy for the problem of utility induction in cases of extremely vague prior information. An example of the use of NPUI within a motivating sequential decision problem is also considered for two extreme selection criteria, i.e., a rule that is based on an attitude of extreme pessimism and a rule that is based on an attitude of extreme optimism.
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Appears in Collections:Statistics (Scholarly Publications)

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