I don’t think formal decision theory is common in applied Bayesian stats in science; the only paper I can quickly recall that did a decision analysis is Andrew Gelman’s radon remediation study. Maybe econometrics is different, since it’s a lot easier to define losses in that context.
I don’t think formal decision theory is common in applied Bayesian stats in science; the only paper I can quickly recall that did a decision analysis is Andrew Gelman’s radon remediation study. Maybe econometrics is different, since it’s a lot easier to define losses in that context.