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Optimal Bayesian randomization. (English) Zbl 0886.62026
Summary: Randomization is a puzzle for Bayesians. The intuitive need for randomization is clear, but there is a standard result that Bayesians need not randomize. We propose a model in which randomization is a strictly optimal procedure. The most important aspect of our model is that there are several parties who make different decisions and observe different data. The result also sheds light on the ethical considerations involving randomization in a clinical trial.
MSC:
62F15Bayesian inference
62P10Applications of statistics to biology and medical sciences