Empirical Bayes is a versatile approach to “learn from a lot” in two ways: first, from a large number of variables and, second, from a potentially large amount of prior information, for example, ...

A standard tool for model selection in a Bayesian framework is the Bayes factor which compares the marginal likelihood of the data under two given different models. In this paper, we consider the ...

Bayesian Networks, also known as Belief Networks or Bayes Nets, are a powerful probabilistic graphical model used for reasoning under uncertainty. They have been successfully applied to a wide range ...

Discover how credibility theory helps actuaries use historical data to estimate risks and set insurance premiums; learn how the Bayesian and Buhlmann methods relate.

Learn to apply Bayes' theorem in financial forecasting for insightful, updated predictions. Enhance decision-making with ...