Backwards Martingales and Exchangeability

Part of the Universitext book series (UTX)

With many data acquisitions, such as telephone surveys, the order in which the data come does not matter. Mathematically, we say that a family of random variables is exchangeable if the joint distribution does not change under finite permutations. De Finetti’s structural theorem says that an infinite family of E-valued exchangeable random variables can be described by a two-stage experiment. At the first stage, a probability distribution Ξ on E is drawn at random. At the second stage, i.i.d. random variables with distribution Ξ are implemented.


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© Springer-Verlag London Limited 2008

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