Relation To Other Statistical Properties
If a family of distributions has the monotone likelihood ratio property in ,
- the family has monotone decreasing hazard rates in (but not necessarily in )
- the family exhibits the first-order (and hence second-order) stochastic dominance in, and the best Bayesian update of is increasing in .
But not conversely: neither monotone hazard rates nor stochastic dominance imply the MLRP.
Read more about this topic: Monotone Likelihood Ratio
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