Piatti, Alberto; Trojani, Fabio; Zaffalon, Marco - Institut für Schweizerisches Bankwesen <Zürich> - 2006
The imprecise Beta model (IBM) of Bernard (1996) and Walley (1996) is the most popular model for learning about a binomial random variable under prior ignorance. Piatti et al. (2005) show that there is a fundamental issue with the interpretation of results produced by the IBM in applications....