Abstract
In yue and clayton (1996),a sequential bayesian approach was used to compare the number of speeies in two populations based on a cost structrue,which consists of a sampling cost and a misclassification loss. We discuss the search for good alternative decision rules when the optimal stopping rule is difficult to apply. Different types of decision rules. including look ahead rules,are examined by means of backward induction and simulations.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have