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
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE