| Budget Amount *help |
¥4,940,000 (Direct Cost: ¥3,800,000、Indirect Cost: ¥1,140,000)
Fiscal Year 2013: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2012: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2011: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Research Abstract |
As a result of this research program, I completed a paper entitled "Subjective error measure." I will explain its motivation and results. The decision-maker who complies with Savage's axioms can be regarded as evaluating each act by solving a statistical inference problem, in which the estimation error is measured by the squared-error loss function. However, it is more desirable to derive a loss function, as well as the utility index and the subjective probability, from the decision-maker's own preference. I weaken Savage's axioms to characterize the preference which is based on the loss-minimization in the sense that the decision-maker evaluates each act by solving a statistical inference problem, in which the estimation error is measured by some loss function which may be different from the squared-error loss function. Also, the paper provides two examples of preferences which are based on the loss-minimization with the loss function more general than the squared-error loss function.
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