Utility-Based Learning from Data (Chapman & Hall/CRC Machine by Craig Friedman,Sven Sandow
By Craig Friedman,Sven Sandow
Utility-Based studying from Data offers a pedagogical, self-contained dialogue of likelihood estimation tools through a coherent method from the perspective of a choice maker who acts in an doubtful setting. This method is prompted by way of the concept that probabilistic types are not realized for his or her personal sake; quite, they're used to make judgements. in particular, the authors undertake the perspective of a choice maker who
(i) operates in an doubtful atmosphere the place the results of each attainable final result are explicitly monetized,
(ii) bases his judgements on a probabilistic version, and
(iii) builds and assesses his versions accordingly.
These assumptions are certainly expressed within the language of application idea, that is popular from finance and choice thought. by means of taking this viewpoint, the publication sheds gentle on and generalizes a few renowned statistical studying ways, connecting principles from info conception, statistics, and finance. It moves a stability among rigor and instinct, conveying the most rules to as large an viewers as possible.
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