Prequential definition

Prequential means "predictive sequential". In this talk I will give an outline of the fundamental ideas of prequential Probability and Statistics. Consider a sequential game between two players, Forecaster and Nature. A conventional probability model can be constructed by ascribing suitable strategies to each player. The prequential approach concentrates, instead, on the sequences of choices made by each player, and attempts to see what can be said under weak, or absent, assumptions about underlying strategies. By considering suitable criteria for the "agreement" between forecasts and outcomes, we obtain a new game-theoretic construction of Probability Theory. Similarly, a standard statistical model can be considered as a strategy for a parametrised collection of "experts". Prequential Statistics focuses attention on the actual forecasts issued, eschewing, so far as possible, further assumptions about underlying strategies. I shall argue that little of value is lost, and much insight is gained, by imposing such constraints.
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Examples of Prequential in a sentence

  • Present Position and Potential Developments: Some Personal Views: Statistical Theory: The Prequential Approach.

Related to Prequential

  • Sequential Order means (a) first, to the reduction of the Note Principal Balance of each of A Note, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each B Note, until the Note Principal Balance of each such Note is reduced to zero.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Downtime means the Total Minutes in the Month during which the Cloud Service (or Servers for Server Provisioning) does not respond to a request from SAP’s Point of Demarcation for the data center providing the Cloud Service (or Server for Server Provisioning), excluding Excluded Downtime.

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Reverse Sequential Order means (a) first, to the reduction of the Note Principal Balance of each B Note, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each of A Note, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero.