On a Pooling Problem from the Statistical Decision Viewpoint
Econometrica
1953
A problem is posed of how to divide a set of K independent random variables into a smaller number of mutually exclusive groups so that the groups are homogeneous. Following some ideas of Wald, a loss function is postulated from economic considerations; a Bayes solution to the problem is derived and the resulting least squares criterion applied to a numerical example. Some limitations of the approach are discussed; relationships to other work are indicated.
- DOI
- 10.2307/1907923
- Volume
- 21 (4)
- Pages
- 567
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