English, Article edition: The Cramér-Rao lower bound on variance: Adam and Eve's “uncertainty principle” Michael R. Powers

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Bookmark: http://trove.nla.gov.au/version/8876
Physical Description
  • article
Language
  • English

Edition details

Title
  • The Cramér-Rao lower bound on variance: Adam and Eve's “uncertainty principle”
Author
  • Michael R. Powers
Physical Description
  • article
Notes
  • Purpose – The editorial aims to describe the importance of the Cramér-Rao lower bound (CRLB) in matters of risk, and consider why this inequality generally receives less attention than it deserves. Design/​methodology/​approach – The CRLB is discussed in the context of other celebrated equations, one of which (Heisenberg's uncertainty principle) is actually implied by the CRLB. A hypothetical world with no randomness on the macroscopic level is then imagined, and the role of the CRLB in that world is considered. Findings – It is found that in a world with no macroscopic uncertainty, the CRLB would play a central role in describing the “counterintuitive” concept of randomness. Originality/​value – The editorial identifies and explores an important epistemological result that is under-appreciated.
  • Functional equations, Risk assessment, Variance
  • RePEc:eme:jrfpps:v:7:y:2006:i:3:p:233-236
Language
  • English
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