Cookies

We use cookies to ensure that we give you the best experience on our website. You can change your cookie settings at any time. Otherwise, we'll assume you're OK to continue.

CeREES Centre for Geoenergy

Staff Profiles

Publication details for Professor Michael Goldstein

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.

Author(s) from Durham

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.