Heh. I’m not a strong advocate of Bayesianism, but when someone says their estimator is unbiased, that doesn’t fill me with trust. There are many problems where the unique unbiased estimator is ridiculous (e.g. negative with high probability when the true parameter is always positive, etc.)
Heh. I’m not a strong advocate of Bayesianism, but when someone says their estimator is unbiased, that doesn’t fill me with trust. There are many problems where the unique unbiased estimator is ridiculous (e.g. negative with high probability when the true parameter is always positive, etc.)
Sure, unbiasedness is a weak property:
If you throw a dart either one foot to the left or one foot to the right of the bullseye, you are unbiased wrt the bullseye, but this is stupid.
Consistency is a better property.