The basic idea of Q-learning is that 'the value of a certain state (Q value) is determined by the reward obtained and the value of the state at the next point in time', and is expressed by the ...

Multilevel analysis is a useful technique for analyzing longitudinal data. To describe a person's development across time, the quality of the estimates of the random coefficients, which relate time to ...

We consider the problem of modifying the linear Bayes estimator for the mean of a distribution of unknown form by using an estimate of sample variance. The general conditions under which there is no ...

The covariance matrix of asset returns is the key input for many problems in finance and economics. This paper introduces a Bayesian nonparametric method to estimate the ex post covariance matrix from ...

The authors consider a general calibration problem for derivative pricing models, which they reformulate into a Bayesian framework to attain posterior distributions for model parameters. They then ...