Bayesian decision analysis

A decision analysis with given information is denoted as a prior analysis, when the utility function has been defined and the probabilities of the various state of nature corresponding to different consequences have been estimated.
A decision analysis with additional information is called posterior analysis, when additional information becomes available, such as a certain SHM experiment has been implemented and the results of the experiment are known.
A decision analysis with “unknown” information is defined as pre-posterior analysis, when experiment is planned but the result is still unknown, based on assumptions and knowledge of belief.

Contact

Contributor: Lijia Long (ESR12)

lijia.long@bam.de