Deriving Posterior Distributions for a Location Parameter: A Decision Theoretic Approach
Deriving Posterior Distributions for a Location Parameter: A Decision Theoretic Approach
In this paper we develop a decision theoretic formulation for the problem of deriving posterior distributions for a parameter $\theta$, when the prior information is vague. Let $\pi(d\theta)$ be the true but unknown prior, $Q_\pi(d\theta\mid X)$ the corresponding posterior and $\delta(d\theta\mid X)$ an estimate of the posterior based on an …