Bayes estimate; median of the posterior distribution
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Suppose that the loss function is l(theta, theta_hat) = |theta - theta_hat|. Show that the Bayes estimate of theta is any median of the posterior distribution (any number m(x) such that P(theta <= m(x)|x)>=.5 and P(theta>=m(x)|x)>=.5).
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This solution shows that the Bayes estimate of theta is any median of the posterior distribution.
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Bayes estimate; median of the posterior distribution
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Suppose that the loss function is l (theta, theta_hat) = |theta - theta_hat|. Show that the Bayes estimate of theta is any median of the ...
Purchase this Solution
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