Trade-off sensitive experimental design: a multicriterion, decision theoretic, Bayes linear approach

Farrow, M.; Goldstein, M.

Abstract

We show how mutually utility independent hierarchies, which weigh the various costs of an experiment against benefits expressed through a mixed Bayes linear utility representing the potential gains in knowledge from the experiment, provide a flexible and intuitive methodology for experimental design which remains tractable even for complex multivariate problems. A key feature of the approach is that we allow imprecision in the trade-offs between the various costs and benefits. We identify the Pareto optimal designs under the imprecise specification and suggest a criterion for selecting between such designs. The approach is illustrated with respect to an experiment related to the oral glucose tolerance test.

Citation

Farrow, M., & Goldstein, M. (2006). Trade-off sensitive experimental design: a multicriterion, decision theoretic, Bayes linear approach. Journal of Statistical Planning and Inference, 136(2), 498-526. https://doi.org/10.1016/j.jspi.2004.07.008

• Journal Article Type: Article
• Publication Date: 2006-02
• Deposit Date: Apr 26, 2007
• Publicly Available Date: Feb 24, 2010
• Journal: Journal of Statistical Planning and Inference
• Print ISSN: 0378-3758
• Electronic ISSN: 1873-1171
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 136
• Issue: 2
• Pages: 498-526
• DOI: https://doi.org/10.1016/j.jspi.2004.07.008
• Keywords: Imprecise utility, Multi-attribute utility, Pareto optimality, Oral glucose tolerance test.
• Public URL: https://durham-repository.worktribe.com/output/1593491