A Revisit to Point Estimation Through the Empirical Bayes Method: The Case of Binomial Distribution with Beta Prior and Extension to Poisson Distribution
Between the classical (frequentist) approach, which is based solely on the data, and a fully Bayesian set-up where one assumes a prior distribution for the model parameters, lies the Empirical Bayes (EB) approach which appears to be a good compromise between the aforementioned two approaches. Even though many researche...