The entropy–Bayes decision making model of information value risky analysis

The entropy–Bayes decision making model of information value risky analysis

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Article ID: iaor2003510
Country: China
Volume: 21
Issue: 8
Start Page Number: 14
End Page Number: 18
Publication Date: Aug 2001
Journal: Systems Engineering Theory & Practice
Authors: ,
Abstract:

Some limitations (and their causes) of Bayes decision making are analyzed in this paper. The entropy method is applied in Bayes decision making and is shown to improve the accuracy of Bayes decision making by correcting Bayes decision models. Further, we obtain a sufficient and necessary condition in Bayes pre-posterior analysis.

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