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Customer Reviews:
good handbook for finance and IO research
By Bo - April 6, 2001It is a wonderful book for financial and Industrial Organization research. The book illustrates how to use Bayisan Statistics for updating counsumers/traders' information about products/stocks, which is widely used in asymetric/coordination games and in uncertainty research. The book is clearly written, easy to understand even without a solid backgroup in Baysian Statistics. And with a normal prior distribution of belief, you will get a beautiful/approachable normal posterior distribution. This definitely simplies the information-updating process much.
A Masterwork
By N. Lafond "Gentle Reader" - August 5, 2007I bought this book in 1987 when I took Morry Degroot's course in decision theory. I have used it ever since. The text makes all the connections between bayesian decision theory and probability theory and covers the useful techniques in both areas. Of course, Morry made the book even more effective through the excellent problem sets that are included. And they can be challenging as any really informative exercise would be.
I hesitated to write anything on this because it seemed presumptuous to "review" anything from Morry. But, I thought that I might be allowed this one testimonial to a person I will never forget and a book that has helped me for so long.
Great Book, Clear
By A Customer - December 2, 2002I was looking for particular information about conjugate priors , and this book had exactly what I was looking for. Chapters Include: Subjective Probability, Utility, Decision Problems, Conjugate Prior Distributions, Sequential Decisions, Optimal Stopping
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