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Decision Theory Applied to Selecting the Winners, Ranking, and Classification

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  • Nicholas Tibor Longford

    (Imperial College London)

Abstract

We address the problem of selecting the best of a set of units based on a criterion variable, when its value is recorded for every unit subject to estimation, measurement, or another source of error. The solution is constructed in a decision-theoretical framework, incorporating the consequences (ramifications) of the various kinds of error that can be committed. The related problems of classifying the units to a small number of groups and ranking them are solved by a similar approach. An application is presented involving retention rates in the undergraduate courses of a university.

Suggested Citation

  • Nicholas Tibor Longford, 2016. "Decision Theory Applied to Selecting the Winners, Ranking, and Classification," Journal of Educational and Behavioral Statistics, , vol. 41(4), pages 420-442, August.
    • Handle: RePEc:sae:jedbes:v:41:y:2016:i:4:p:420-442
    DOI: 10.3102/1076998616644991
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