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Point Estimation and Risk Preferences.
- Source :
-
Journal of the American Statistical Association . Dec73, Vol. 68 Issue 344, p944. 7p. - Publication Year :
- 1973
-
Abstract
- The decision-theoretic approach to point estimation involves the choice of an estimate to minimize the expected loss associated with the estimate. The purpose of this paper is to indicate the influence of risk aversion on point estimates for classes of payoff functions including the piecewise linear and quadratic payoff functions. Increased risk aversion results in a point estimate closer to zero for a quadratic pay. off function and a lower estimate with a piecewise linear payoff function, for example. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01621459
- Volume :
- 68
- Issue :
- 344
- Database :
- Academic Search Index
- Journal :
- Journal of the American Statistical Association
- Publication Type :
- Academic Journal
- Accession number :
- 4603803
- Full Text :
- https://doi.org/10.1080/01621459.1973.10481451