Abstract
This paper discusses five questions concerning maximum likelihood estimation: What kind of theory is maximum likelihood? How is maximum likelihood used in practice? To what extent can this theory and practice be justified from a decision-theoretic viewpoint? What are maximum likelihood's principal virtues and defects? What improvements have been suggested by decision theory?
Citation
Bradley Efron. "Maximum Likelihood and Decision Theory." Ann. Statist. 10 (2) 340 - 356, June, 1982. https://doi.org/10.1214/aos/1176345778
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