Encyclopedia of Operations Research and Management Science

2001 Edition
| Editors: Saul I. Gass, Carl M. Harris


Reference work entry
DOI: https://doi.org/10.1007/1-4020-0611-X_67
When a decision maker receives data bearing on an uncertain event, the a priori probability of the event can be updated by computing the conditional probability of the uncertain hypothesis given the new evidence. The derivation of the revised or a posteriori probability can be easily derived from fundamental principles and its discovery has been attributed to the Reverend Thomas Bayes (1763). The result is therefore known as Bayes rule or theorem:
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Copyright information

© Kluwer Academic Publishers 2001

Authors and Affiliations

  1. 1.Robert H. Smith School of BusinessUniversity of MarylandCollege PartUSA
  2. 2.School of Information Technology & EngineeringGeorge Mason UniversityFairfaxUSA