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Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Leonardo Leoni1, Farshad BahooToroody2, Saeed Khalaj2
1Department of Industrial Engineering (DIEF), University of Florence, 50123 Florence, Italy.
Bayesian inference enhances reliability analysis by incorporating prior knowledge, outperforming traditional methods. Strong informative priors significantly impact failure predictions, guiding maintenance and asset management.
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