We all like to know how reliable and how risky certain situations are, and our increasing reliance on technology has led to the need for more precise assessments than ever before. Such precision has resulted in efforts both to sharpen the notions of risk and reliability, and to quantify them. Quantification is required for normative decision-making, especially decisions pertaining to our safety and wellbeing. Increasingly in recent years Bayesian...
"Reliability studies lead to problems of how to act and action is best carried out by Bayesian principles. The author uses these to provide a clear account of the subject that will be of value to both theoreticians and practitioners."
―Dennis V. Lindley
"This is a wonderful book―well written, exceptionally wide-ranging in its coverage of reliability and risk concepts and applications, and coherently focused throughout by...
Nozer D. Singpurwalla is the author of Reliability and Risk: A Bayesian Perspective, published by Wiley.
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