Subjective modelling and Bayes linear estimation in the U.K. water industry

Subjective modelling and Bayes linear estimation in the U.K. water industry

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Article ID: iaor19931418
Country: United Kingdom
Volume: 41
Start Page Number: 563
End Page Number: 577
Publication Date: Mar 1992
Journal: Applied Statistics
Authors: , ,
Keywords: investment
Abstract:

In their preparation for privatization, the English and Welsh water authorities were required to submit estimates of the amount of capital investment that would be required over 20 years to maintain, improve and extend their assets. A Bayesian analysis was adopted by two of the water authorities. The authors present the methodology used and illustrate it with part of an analysis used for South West Water.

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