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Comparison of Experiments

David Blackwell
- Vol. 2, pp 93-102
TLDR
In this paper, it was shown that if a > and n are independent, then the combination (a, -y) > (#, y) is a sufficient statistic for a procedure equivalent to,S, a >, it is shown that a v j3.1.
Abstract
1. Summary Bohnenblust, Shapley, and Sherman [2] have introduced a method of comparing two sampling procedures or experiments; essentially their concept is that one experiment a is more informative than a second experiment ,, a v ,S, if, for every possible risk function, any risk attainable with , is also attainable with a. If a is a sufficient statistic for a procedure equivalent to ,S, a >,, it is shown that a v j3. In the case of dichotomies, the converse is proved. Whether > and v are equivalent in general is not known. Various properties of > and n are obtained, such as the following: if a > , and y is independent of both, then the combination (a, -y) > (#, y). An application to a problem in 2 X 2 tables is discussed.

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Citations
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Some methods for classification and analysis of multivariate observations

TL;DR: The k-means algorithm as mentioned in this paper partitions an N-dimensional population into k sets on the basis of a sample, which is a generalization of the ordinary sample mean, and it is shown to give partitions which are reasonably efficient in the sense of within-class variance.
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Moral Hazard and Observability

TL;DR: In this article, the role of imperfect information in a principal-agent relationship subject to moral hazard is considered, and a necessary and sufficient condition for imperfect information to improve on contracts based on the payoff alone is derived.
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The Dual Theory of Choice under Risk.

Menahem E. Yaari
- 01 Jan 1987 - 
TL;DR: In this article, a new theory of choice under risk is proposed, a theory which, in a sense that will become clear, is dual to expected utility theory, hence the title "dual theory."
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The Divergence and Bhattacharyya Distance Measures in Signal Selection

TL;DR: This partly tutorial paper compares the properties of an often used measure, the divergence, with a new measure that is often easier to evaluate, called the Bhattacharyya distance, which gives results that are at least as good and often better than those given by the divergence.
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The Efficiency Analysis of Choices Involving Risk

TL;DR: In this paper, an analysis of the first step of the decision-making process of an individual decision maker among alternative risky ventures is presented, in terms of a single dimension such as money, both for the utility functions and for the probability distributions.
References
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Left centralizers and isomorphisms of group algebras

TL;DR: In this paper, it was shown that in the strong operator topology, any left centralizer can be approximated by a finite linear combination of right translations, up to scalar factors of unit modulus.