Accession Number : AD0770626
Title : Credible Means Are Exact Bayesian for Exponential Families.
Descriptive Note : Research rept.,
Corporate Author : CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER
Personal Author(s) : Jewell,William S.
Report Date : OCT 1973
Pagination or Media Count : 26
Abstract : The credibility formula used in casualty insurance experience rating is known to be exact for certain prior-likelihood distributions, and, the minimum least-squares unbiased estimator for all others. The author shows that credibility is also exact for all simple exponential families,and is also true in an extended sense for all regular distributions with a fixed-dimensional sufficient statistic. (Author)
Descriptors : *Economics, *Statistical distributions, *Bayes theorem, *Risk, Sampling, Exponential functions, Mathematical models
Subject Categories : Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE