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Das, Palash Ranjan
- On the Application of Bayesian Credibility Theory to Achieve more Accurate Movie Rankings
Authors
1 Department of Applied Mathematics, University of Calcutta, Kolkata, West Bengal, IN
Source
International Journal of Banking, Risk and Insurance, Vol 4, No 2 (2016), Pagination: 1-10Abstract
Credibility theory is a branch of actuarial science devoted to quantify how unique a particular outcome will be when compared to an outcome deemed as typical.In this paper, we will examine the application of the principles of Bayesian Credibility Theory in rating and ranking movies by a premier online movie database which is based on user's votes. Although the Bayesian credibility theory was developed originally as a method to calculate the risk premium by combining the individual risk experience with the class risk experience, it is generic enough to deal with a wide range of practical applications quite different from the classical application mentioned above. One such diverse application of the theory in an unlikely domain will be discussed in this paper.
Keywords
Credibility Theory, Prior Distribution, Likelihood Function, Posterior Distribution, Loss Function, Bayesian Approach.- Application of Bayesian Credibility Theory in Movie Rankings to Reduce Financial Risk of Production Houses
Authors
1 Dept of Applied Mathematics, University of Calcutta, Kolkata, IN
Source
Parikalpana: KIIT Journal of Management, Vol 12, No 2 (2016), Pagination: 95-106Abstract
Credibility theory is a branch of actuarial science devoted to quantify how unique a particular outcome will be compared to an outcome deemed as typical.
In this paper, we will examine the application of the principles of Bayesian Credibility Theory in rating and ranking movies by a premier online movie database based on user's votes. Although the Bayesian credibility theory was developed originally as a method to calculate the risk premium by combining the individual risk experience with the class risk experience, it is generic enough to deal with a wide range of practical applications quite different from the classical application mentioned above. One such diverse application of the theory in an unlikely domain will be discussed in this paper.
Keywords
Credibility Theory, Prior Distribution, Likelihood Function, Posterior Distribution, Loss Function, Bayesian Approach.References
- http://www.imdb.com/
- http://www.imdb.com/chart/top
- h t t p : / / w w w. i m d b . c o m / h e l p / showleaf?votes
- http://www.imdb.com/title/tt0111161/ ratings?ref_=tt_ov_rt
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