haku: @journal_id 780 / yhteensä: 133
viite: 132 / 133
| Tekijä: | Phillips, H. |
| Otsikko: | Objectivist misinterpretations of Bayesian Nuances in Portfolio theory and the models |
| Lehti: | International Review of Financial Analysis
1993 : VOL. 2:2, p. 69-76 |
| Asiasana: | MODELS THEORIES BAYESIAN STATISTICS |
| Kieli: | eng |
| Tiivistelmä: | Conflicting Bayesian and objectivist views of probability and statistics were argued long before Markowitz came to the scene. This concept of random variation has no counterpart in sampling theory, however, and no objective interpretation. Most financial economists, moreover, including some noted authors and model builders, have not read the Bayesian statistical literature in meticulous detail and tend to misinterpret, ignore, or simply disregard Bayesian nuances. There is widespread confusion in literature as this paper shows. |
SCIMA