A new method for assessing judgmental distributions

J.J.A. Moors, M.H. Schuld, A.C.A. Mathijssen

Research output: Book/ReportReportProfessional

437 Downloads (Pure)

Abstract

For a number of statistical applications subjective estimates of some distributional parameters - or even complete densities are needed. The literature agrees that it is wise behaviour to ask only for some quantiles of the distribution; from these, the desired quantities are extracted. Quite a lot of methods have been suggested up to now; the number of quantiles they need varies from three to nine or more. Still another method is proposed here. Individuals are asked the relatively simple task of presenting the seven values that divide the total probability mass into eight equal parts. From these so-called octiles four estimates for location, dispersion, skewness and `peakedness' are derived. Moreover, these four values uniquely determine one distribution within either the Pearson or the Johnson system. Consequently, there is no need for `optimal' approximating formulae.
Original languageEnglish
PublisherUnknown Publisher
Number of pages13
VolumeFEW 708
Publication statusPublished - 1995

Publication series

NameResearch memorandum / Tilburg University, Faculty of Economics and Business Administration
VolumeFEW 708

Fingerprint

statistical application
skewness
distribution
need
method
parameter

Keywords

  • Estimation
  • Bayesian Statistics
  • Statistical Distribution
  • statistics

Cite this

Moors, J. J. A., Schuld, M. H., & Mathijssen, A. C. A. (1995). A new method for assessing judgmental distributions. (Research memorandum / Tilburg University, Faculty of Economics and Business Administration; Vol. FEW 708). Unknown Publisher.
Moors, J.J.A. ; Schuld, M.H. ; Mathijssen, A.C.A. / A new method for assessing judgmental distributions. Unknown Publisher, 1995. 13 p. (Research memorandum / Tilburg University, Faculty of Economics and Business Administration).
@book{7ad886664ed342bfa563d935caa89728,
title = "A new method for assessing judgmental distributions",
abstract = "For a number of statistical applications subjective estimates of some distributional parameters - or even complete densities are needed. The literature agrees that it is wise behaviour to ask only for some quantiles of the distribution; from these, the desired quantities are extracted. Quite a lot of methods have been suggested up to now; the number of quantiles they need varies from three to nine or more. Still another method is proposed here. Individuals are asked the relatively simple task of presenting the seven values that divide the total probability mass into eight equal parts. From these so-called octiles four estimates for location, dispersion, skewness and `peakedness' are derived. Moreover, these four values uniquely determine one distribution within either the Pearson or the Johnson system. Consequently, there is no need for `optimal' approximating formulae.",
keywords = "Estimation, Bayesian Statistics, Statistical Distribution, statistics",
author = "J.J.A. Moors and M.H. Schuld and A.C.A. Mathijssen",
note = "Pagination: 13",
year = "1995",
language = "English",
volume = "FEW 708",
series = "Research memorandum / Tilburg University, Faculty of Economics and Business Administration",
publisher = "Unknown Publisher",

}

Moors, JJA, Schuld, MH & Mathijssen, ACA 1995, A new method for assessing judgmental distributions. Research memorandum / Tilburg University, Faculty of Economics and Business Administration, vol. FEW 708, vol. FEW 708, Unknown Publisher.

A new method for assessing judgmental distributions. / Moors, J.J.A.; Schuld, M.H.; Mathijssen, A.C.A.

Unknown Publisher, 1995. 13 p. (Research memorandum / Tilburg University, Faculty of Economics and Business Administration; Vol. FEW 708).

Research output: Book/ReportReportProfessional

TY - BOOK

T1 - A new method for assessing judgmental distributions

AU - Moors, J.J.A.

AU - Schuld, M.H.

AU - Mathijssen, A.C.A.

N1 - Pagination: 13

PY - 1995

Y1 - 1995

N2 - For a number of statistical applications subjective estimates of some distributional parameters - or even complete densities are needed. The literature agrees that it is wise behaviour to ask only for some quantiles of the distribution; from these, the desired quantities are extracted. Quite a lot of methods have been suggested up to now; the number of quantiles they need varies from three to nine or more. Still another method is proposed here. Individuals are asked the relatively simple task of presenting the seven values that divide the total probability mass into eight equal parts. From these so-called octiles four estimates for location, dispersion, skewness and `peakedness' are derived. Moreover, these four values uniquely determine one distribution within either the Pearson or the Johnson system. Consequently, there is no need for `optimal' approximating formulae.

AB - For a number of statistical applications subjective estimates of some distributional parameters - or even complete densities are needed. The literature agrees that it is wise behaviour to ask only for some quantiles of the distribution; from these, the desired quantities are extracted. Quite a lot of methods have been suggested up to now; the number of quantiles they need varies from three to nine or more. Still another method is proposed here. Individuals are asked the relatively simple task of presenting the seven values that divide the total probability mass into eight equal parts. From these so-called octiles four estimates for location, dispersion, skewness and `peakedness' are derived. Moreover, these four values uniquely determine one distribution within either the Pearson or the Johnson system. Consequently, there is no need for `optimal' approximating formulae.

KW - Estimation

KW - Bayesian Statistics

KW - Statistical Distribution

KW - statistics

M3 - Report

VL - FEW 708

T3 - Research memorandum / Tilburg University, Faculty of Economics and Business Administration

BT - A new method for assessing judgmental distributions

PB - Unknown Publisher

ER -

Moors JJA, Schuld MH, Mathijssen ACA. A new method for assessing judgmental distributions. Unknown Publisher, 1995. 13 p. (Research memorandum / Tilburg University, Faculty of Economics and Business Administration).