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The Wiley Classics Library consists of selected books that have become recognized classics in their respective fields. With these new unabridged and inexpensive editions, Wiley hopes to extend the life of these important works by making them available to future generations of mathematicians and scientists.
- Sales Rank: #237783 in Books
- Published on: 1970-06
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 6.25" w x 1.00" l,
- Binding: Hardcover
- 480 pages
From the Back Cover
The Wiley Classics Library consists of selected books that have become recognized classics in their respective fields. With these new unabridged and inexpensive editions, Wiley hopes to extend the life of these important works by making them available to future generations of mathematicians and scientists.
About the Author
Morris DeGroot (now deceased) was a great statistician and gentleman of the 20th Century. Says friend and coworker Joseph B. ("Jay") Kadane of DeGroot in the Foreword, "He was an institutional builder, as founder of the Statistics Department at Carnegie Mellon University and as first Executive Editor of Statistical Science. He was a wonderful colleague and friend, always ready for a chat about principles, a research problem, a departmental problem, a reference, or personal advice."
Most helpful customer reviews
13 of 14 people found the following review helpful.
A Masterwork
By N. Lafond
I 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.
15 of 17 people found the following review helpful.
good handbook for finance and IO research
By Bo
It 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.
8 of 8 people found the following review helpful.
Great Book, Clear
By A Customer
I 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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