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Optimal Bayesian Randomization

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Randomization is a puzzle for Bayesians. The intuitive need for randomization is clear, but there is a standard result that Bayesians need not randomize. In this paper we propose a model in which randomization is a strictly optimal procedure. The most important aspect of our model is that there are several parties who make different decisions and observe different data. The result also sheds light on the ethical considerations involving randomization in a clinical trial.
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Keywords: Clinical trial; Covariate; Ethics; Multiperson model

Document Type: Original Article

Affiliations: 1: Texas A&M University, College Station, USA, 2: Carnegie Mellon University, Pittsburgh, USA

Publication date: January 1, 1997

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